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Sumitomo Corporation and ABeam Consulting Ltd. Form
Specialized Auto-Industry Consulting Firm
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November, 22, 2003
Sumitomo Corporation
ABeam Consulting Ltd.
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| Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Motoyuki Oka) and ABeam Consulting Ltd. (Head Office: Chiyoda-ku, Tokyo; President and CEO: Kazumasa Nishioka; hereafter referred to as "ABeam") announced today the launch of a new specialized auto-industry consulting firm, established jointly by the two companies in October of this year. The new company, SC-ABeam Automotive Consulting (hereafter referred to as SC-ABeam), will begin operations today from its headquarters in Chuo-ku, Tokyo under the management of its President and CEO, Shinichi Kato. ABeam Consulting was formerly a member company of Deloitte Consulting, the consulting arm of the large US-based accounting firm. The joint establishment of a specialized consulting firm between a major consulting company and a major trading company is the first of its kind in Japan.
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| SC-ABeam plans to provide services to both clients "within" the automobile industry and "outside" the industry. The former category of clients will include key players in such industries as small-to-medium scale manufacturing, logistics and services. The latter category of clients will include investors from overseas or outside the automobile industry who are evaluating their options to invest or enter the market. The strengths of SC-ABeam lie in its founding partners. Sumitomo Corporation, supported by its network and experience in developing auto-related businesses from the manufacturing, retail, logistics and financials aspects, has substantial business development acumen and has developed a keen ability to recommend optimal solutions. ABeam, on the other hand, has built up a wealth ofa considerable experience in the fields of strategic management, business process restructuring, information technology, human/organization resource management.management innovation through the many years of consulting on strategy, operational processes, information technology, human resources and organization related issues. The new company will combine these considerable strengths to provide all levels of clients (both within and outside the automobile industry) with wide-ranging research and consulting services.
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| The partial shift to overseas locations by the Japanese automobile industry has resulted in rumblings about a hollowing-out of the industry. However, closer analysis of GDP, capital investment and R&D costs reveals that the auto industry still remains to be one of the main driving forces behind the Japanese economy. With this in mind, SC-ABeam intends to focus in on the potential of this longstanding ?gmature" industry and provide the following services in order to jumpstart and re-energize this potential growth area: |
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| Services to Clients within the Auto Industry |
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Info Gear - Provide information; conduct contracted research |
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Asset Gear - Support financial strategy, including and ALM strategies of companies (i.e. liquidation, securitization of assets, etc.) |
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Process Gear - Support business innovation in such areas as operational flow, process improvement, outsourcing strategies, information systems re-establishment, etc. |
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Global Gear - Provide packaged services to support overseas entry for clients |
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Strategy Gear - Provide total consulting services to assist in the development of growth strategies and competitive strategies |
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| Services to Clients outside the Auto Industry |
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Entry Turbo - Conduct screening and business due diligence for investors to ensure smooth market entry |
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Execution Turbo - Provide advice to clients on ways to facilitate the investing and execution processes as well as grow and maximize corporate value; hands-on investment management on behalf of clients |
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Exit Turbo - Development of exit strategy; IPO for final phase of investment; arrangement/mediation of strategic buyer (i.e. financial investor); creation of supplemental report to facilitate exit strategy and maximize value for clients, etc. |
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| Even before being incorporated, SC-ABeam built up extensive experience by engaging in such projects as conducting auto-industry investment assessments for investment funds and venture capitalists, supporting the overseas development of automakers, establishing investment funds to promote overseas entry by Japanese automakers, and providing hands-on support for investments into auto-related businesses. The recent incorporation of SC-ABeam means that these services will be provided on a wider scale. In fact, one of the first tasks of new company is to undertake consulting work for the used auto auction company, CAA Ltd. (formerly known as Chubu Auto Auction), which Sumitomo invested funds in last month.
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| Corporate Summary of SC-ABeam:
Company Name: SC-ABeam Automotive Consulting Co., Ltd.
Established: October 2003
Address: Harumi Triton Square 1-8-11 Harumi, Chuo-ku, Tokyo 104-8610
Representative Director: Shinichi Kato
Capital: ¥ 50 million
Main Shareholders: Sumitomo Corporation 80%, ABeam Consulting Ltd. 20%
Operations: Auto-industry related consulting, assessments, etc.
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