|Wednesday, 13 September 2017, 11:46 HKT/SGT|
Source: Hitachi, Ltd.
BANGKOK, Sept 13, 2017 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501) concluded a cooperation agreement today with the Eastern Economic Corridor (EEC) Office on applying digital technologies, including IoT (Internet of Things) technologies, and establishing innovative environment to promote EEC development in the Kingdom of Thailand.
Thailand is currently promoting measures aimed at establishing an advanced economic base and achieving further economic development. In 2015, "Thailand 4.0" was presented as a long-term vision of an ideal economic society, and the EEC development plan was laid out as one key measure in realizing this vision. Based on the EEC development plan, total investments on a scale of 1.5 trillion baht (approx. 5 trillion yen) are expected in the public and private sectors combined, and in addition to expanding airports and high-speed railways, the country will aim to attract and foster growth in 10 targeted industries, including robotics, digital technologies, and next-generation automotives.
Hitachi, meanwhile, is striving to become an innovation partner in the IoT era, as part of its 2018 Mid-term Management Plan, promoting growth in the global market through the rollout of the Social Innovation Business, which creates new value through collaborative creation with customers by combining OT(1), IT, and products. The ASEAN market, which is expected to demonstrate strong economic growth, is an important market in the realization of Hitachi's growth strategies. Hitachi's largest scale of business in the ASEAN market is in Thailand, where it is rolling out business in a broad range of fields, including the railways, elevators/escalators, industrial products, and information and telecommunications systems businesses.
In this backdrop, Hitachi and the EEC Office have concluded a cooperation agreement on the use of advanced digital technologies, including IoT related technologies, within the Eastern Economic Corridor region. Based on this agreement, the EEC Office and Hitachi will work collectively to establish a cutting-edge IoT center.
In addition, the EEC Office and Hitachi will collaborate on EEC development in various area, such as implementing necessary study, introducing advanced science and technology etc. EEC Office will also accommodate Hitachi with related information and possible support upon the scope of the EEC Office in creating bases for the use of advanced digital technologies, rolling out services in this region. With the EEC Office's cooperation, Hitachi will promote the use of IoT technologies, for example by undertaking data analytics using artificial intelligence (AI) based on big data obtained from plants, office buildings, and other sources. It will also utilize the solution core and customer cases for Lumada, Hitachi's IoT platform, and roll out digital solutions that contribute to the resolution of various issues in Thailand and the ASEAN region as a whole.
In cooperation with the EEC Office, Hitachi will continue to contribute to the development of Thailand and the ASEAN region by promoting the use of IoT technologies along the Eastern Economic Corridor.
(1) OT: Operational Technology
About Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015) totaled 9,761 billion yen ($81.3 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at www.hitachi.com.
Source: Hitachi, Ltd.
Hitachi, Ltd. (TSE: 6501)
Topic: Press release summary
Sectors: Enterprise IT
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