ITOCHU Announces Investment in and Business Partnership with Timee, Inc.
September 10, 2021
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced investment in Timee, Inc. (headquartered in Toshima-ku, Tokyo; Ryo Ogawa, CEO; hereinafter "Timee") by partially acquiring the third-party allocation of shares (series D) conducted by Timee. At the same time, ITOCHU formed a partnership with Timee aiming to facilitate the expansion of the human resource matching service provided by the company and the creation of new business together.
Timee is operating an on-demand staffing platform service that matches the time people who want to work with businesses which have urgent labor needs. Workers simply pick their desired job, start working immediately and are paid directly afterwards. Companies only need to specify the hours and desired skills, and then are matched with a reliable and flexible workforce.
While the ways of working are diversifying, backed by eased regulations on auxiliary business and the growing popularity of teleworking, etc., businesses are facing growing difficulties in reliably securing human resources given a decreased labor population and a continuous rise in labor costs. Timee provides a means for recruitment and job search that responds to these changes in the social environment.
As a partner and business agent of Timee, ITOCHU provides the service to the ITOCHU Group and its many business partners to steadily help individual companies solve problems such as labor shortages and a rise in labor costs.
In addition, it will promote new value creation through, for example, the development of new services which improve convenience for workers by blending a wide range of IT, finance, and other functions that ITOCHU possesses with Timee's networks of both workers and companies.
Outline of Timee, Inc.
|Corporate name||Timee, Inc.|
|Headquarters||27F Hareza Tower, 1-18-1 Higashi-ikebukuro, Toshima-ku, Tokyo|
|Representative||CEO : Ryo Ogawa|
|Business Activities||Planning, development, and operation of the ond-demand staffing platform service "Timee"|