Sumitomo Mitsui Banking Corporation recently announced a new partnership with Fujitsu with the goal of exploring the creation of a new business. The business would focus on data analytics, and the two believe it could empower users by enabling better decision-making and operational efficiency.

Before the two firms decided to partner up, they worked together on a joint project in 2024. Back then, they created a joint team that conducted a survey, looking into customer needs. What they found was that multiple industries, such as retail, wholesale, manufacturing, and others, wish to distance themselves from decision-making based on individual experience.

Instead, they would rather make decisions based on data-driven operations, which would significantly improve efficiency and improve management.

Upon analyzing the findings, SMBC and Fujitsu decided to combine their assets to meet these needs. Now, SMBC will bring its industry knowledge to the table, alongside data science analysis expertise, while Fujitsu has AI demand forecasting to offer.

Between them, they believe that it is possible to boost management decision-making and support optimization of product ordering volumes by the customers. They can also optimize other aspects, such as logistics planning, personnel allocation, and alike.

Why Is This Important?

Fujitsu’s announcement also noted that these efforts came against the backdrop in Japan’s aging population and declining birthrate. As a result, the country is facing labor shortages, while the personnel cost is increasing.

Meanwhile, the importance of sustainability efforts is increasing in awareness among local corporations, including efforts to reduce CO2 emissions by optimizing inventory management and minimizing manufacturing waste production.

Along the way, SMBC has also positioned the creation of social value as one of the pillars of its medium-term management plan, known as Plan for Fulfilled Growth. So far, the company has supported data-driven decision-making among customers via customized data analysis solutions that leverage advanced financial engineering knowledge and data science.

The goal was to address industry-specific challenges, as well as an entire spectrum of diverse needs. Now, its team-up with Fujitsu will enable new financial and non-financial solutions that will better support data-driven management decision-making.