Sumitomo Mitsui Banking Corporation (SMBC) and Fujitsu have entered into a collaboration aimed at establishing a data analytics business that will support customers in improving decision-making processes and operational efficiency.
This initiative follows a survey conducted by a joint project team formed by the two companies in 2024, which highlighted a demand across various sectors, such as manufacturing, wholesale, and retail, for a shift from experience-based decision-making to data-driven operations.
In response to these findings, SMBC and Fujitsu plan to leverage their combined expertise and technologies to address customer challenges through data analytics.
This collaboration is set against the backdrop of Japan’s demographic challenges, including an ageing population and declining birthrate, which are contributing to labour shortages and rising personnel costs.
Additionally, there is growing corporate awareness of sustainability, with efforts to reduce CO2 emissions by optimising inventory management and minimising waste in manufacturing.
The partnership will focus on several key initiatives. These include the development of data analysis solutions to improve customer management decision-making, joint marketing activities, and conducting demonstration experiments and service provision by integrating the assets and solutions of both companies.
SMBC will contribute its industry knowledge and data science expertise, while Fujitsu will provide its AI demand forecasting capabilities. Fujitsu’s forecasting technology, the Dynamic Ensemble Model, enhances accuracy by optimally combining multiple demand forecasting models, allowing for a more precise response to market dynamics.
Last month, Fujitsu announced a strategic partnership with FICO, a US-based data analytics firm, to introduce FICO’s solutions to the Japanese market, with plans for further expansion into other financial sectors.
