Nov. 24, 2020 Sumitomo Corporation

Capital and Business Tie-up with The Chain Museum to Operate Business in Art

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) will invest in The Chain Museum Inc. (Head Office: Shibuya-ku, Tokyo; Chief Executive Officer: Masamichi Toyama; hereinafter, “TCM”), a company operating art platform business and art consulting business, to launch projects that approach sensibility through art in various business areas. The initiative started with an idea conceived under Sumitomo Corporation’s “intrapreneurship” program, called “0→1 Challenge 2019” (Zero to One Challenge 2019).

Today, with rapidly changing trends and increasing uncertainty, the movement to incorporate unconventional “art thinking,” which centers on aesthetics and sensibility, into business is spreading. Some companies have already started working on marketing and personnel training incorporating art thinking. To create innovation, it is important to not only solve problems but also raise questions based on individual motivations from within oneself. Through the investment in TCM, Sumitomo Corporation aims to create unique and competitive business models by integrating new value presentation through art thinking, which is based on personal inner motivation or approaching customers’ sensibilities, with solutions for customer needs by design thinking.

TCM is launching services for both artists and users on its digital and physical platforms. Through its art and web application service named ArtSticker, TCM provides functions including e-commerce of artworks, social network between artists and users, museum ticket reservation and sales, and audio guides. Taking advantage of the connections it has built with artists through ArtSticker, TCM also provides art consulting service for hotels and commercial facilities. For example, TCM planned artworks to display at a hotel (“sequence MIYASHITA PARK”) that opened in Shibuya in August 2020, and shows artworks displayed at Starbucks Coffee Japan, Ltd. stores on ArtSticker.

Building on its knowledge and networks in promoting digital transformation (DX) in a wide range of industries around the world, Sumitomo Corporation will promote DX with TCM in the art industry, and take on the challenge of creating new value through art in various business areas, including collaboration with real estate and retail businesses and art thinking-based consultation for new business development. As the first step, Sumitomo Corporation will consider the launch of a communication project using artworks rooted in local culture at Terrace Mall Shonan of the Sumitomo Corporation Group and a collaboration with the art-related business of Jupiter Telecommunications Co., Ltd., in which Sumitomo Corporation invests. Having started mutual cooperation with Tokyo University of the Arts in October 2019, Sumitomo Corporation will also develop human resources who will lead next-generation value creation.

 

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■Profile of TCM

Company name : The Chain Museum Inc. Established : July 2018 Representative : Masamichi Toyama Business description : Operation of an art platform, “ArtSticker” (https://artsticker.app/), and art consultation business, “The Chain Museum”

 

■ArtSticker service screen look

Sumitomo Corporation’s Material Issues

Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to the following material Issues.

Achieving Harmony with the Global Environment To realize recycling-oriented society and mitigate climate change, we are working to establish frameworks for the efficient use of resources and stable supply of renewable energy. In doing so, we will achieve growth in harmony with the global environment. Contributing to the Development of Local Communities and Industries We steadily procure and provide goods and services to meet the needs of people in various countries and regions and contribute to developing industrial platforms. Through these means, we will create a virtuous cycle in which we can grow and develop together with local communities. Establishing a Foundation for Comfortable and Enriching Lifestyles We strive to realize more convenient and comfortable lifestyles by providing goods and services for daily use while also responding to needs for high-quality lifestyles in order to support the physical and mental health of people around the world. Providing Diverse “Accessibility” We provide diverse accessibility to open up the possibility of creating new value. To this end, we will improve mobility for safe and efficient flow of people and goods, and expand the network connecting information and finance. Developing Human Resources and Promoting Diversity In order to create new value and innovation by allowing our diverse personnel to fully exercise their abilities in a variety of fields, we will promote the development and empowerment of human resources, which represent our most important management resources. Enhancing Governance We will enhance our ability to draft and implement strategies for achieving sustainable growth and to provide appropriate supervision of these strategies, all while maintaining transparency. In this manner, we will improve management efficiency and maintain sound management.