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Wednesday, 4 September 2019, 13:50 HKT/SGT

Source: Mitsubishi Corporation
Mitsubishi Corporation Invests in Finland's MaaS Global Ltd.

TOKYO, Sept 4, 2019 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce its investment in MaaS Global Ltd. (MaaS Global) through the acceptance of a third-party allocation of shares. MaaS Global is a mobility-as-a-service (MaaS) provider based in Finland.

About MaaS Global

MaaS Global is the world's first true MaaS operator. Through its "Whim" smartphone app, the market's first commercially available, all-inclusive MaaS solution, MaaS Global offers mobility services that enable route-planning, booking, ticketing and payment options combining various methods of transportation, such as railways, buses, taxis and rental cars. MaaS Global's strengths include the sophisticated technologies it used to develop Whim and its creative, monthly subscription packages. After launching Whim in Helsinki in 2017, MaaS Global has made the service available in Belgium and England, and to date, more than 100,000 people have downloaded the app in Finland. MaaS Global plans to expand Whim's reach to Japan and other markets around the world.

The MaaS Market

The MaaS market is expected to grow, not only because these services make it easier for people to get around, but also because they encourage the use of public transportation, which can help to address traffic congestion, environmental concerns and other challenges associated with urban population growth. More and more governments and transportation providers around the world are considering MaaS solutions and conducting trial applications. In Japan, MaaS is expected to help improve transportation for tourists and for people in general outside the major cities.

MC's Policy and Aims

MC established its Automotive & Mobility Group as part of companywide reorganizations in April, 2019. In addition to inheriting the company's sales and sales financing operations in the automotive sector, the group is developing mobility services by capturing opportunities in digitization, CASE* and other trends that are reshaping global industry.

*Connected, Autonomous, Shared, Electric

Leveraging this third-party share acquisition, MC plans to take advantage of its global network and broad industry presence to develop MaaS Global's operations throughout Asia and other parts of the world. MC is also aiming to form tie-ups with mobility players in other sectors like real estate, retail and tourism to develop a new "Beyond MaaS" business model that encompasses more than mobility services.

About Mitsubishi Corporation

Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.

Mitsubishi Corporation

Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Enterprise IT
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