March 16, 2000
Establishment of "Curiocity
Mitsui & Co., Ltd. (Shigeji Ueshima,
president), Senshukai Co., Ltd. (Takashi Miyaji, president), Mitsui
Knowledge Industry Co., Ltd. (Susumu Miyamoto,president), The Sakura
Bank, Ltd. (Akishige Okada, president) and MVC Corporation, (Hitoshi
Suga, president) have established Curiocity Corp, an e-commerce
The new company aims at becoming the Japanese
strongest "B to C" Shopping Portal Site Company by joining forces of
both accumulated knowhow/assets of "Curiocity", a huge virtual city
project, and resources of respective companies on this venture
Further, the company will introduce a stock option
incentive plan thereby managing itself speedily as a venture type
enterprise in the IT industry.
||With the Internet expanding rapidly and with "B to C" e-commerce
being expected to grow/accelerate sharply, many venture companies
have been born recently in Japan. It is expected that "E Christmas"
will come in Japan this year at last, about two years behind the
United States, and that Internet mail-order business will start in
On the other hand, large companies, which have been
overwhelmed by new-born ventures in Internet business, positively
start joining in the market, using their business performance,
credibility, relations and resources in the existing industries.
Especially, such movements are supposed to be accelerated this
year, which could be called "Counter-attack by large companies in
|2. What is
||Mitsui & Co. Ltd. started "Curiocity", a huge virtual city
project which combined CD-ROM and the Internet to establish "a place
for e-commerce" in 1995, when infrastructure of Internet was still
at a primitive stage in Japan, and it has promoted the e-commerce
In 1997, Mitsui & Co., Ltd. started
free Web mail service for the first time in Japan by concentrating
creativity for contents, planning and designing ability accumulated
over several years on the Internet, providing various entertainment
contents of games/music through the Internet and broadly marketing
the brand as well as acquiring customers for the WebSite, thereby
constructing a shopping mall.
As a result of such efforts, the
"Curiocity" has become one of the leading home page in the access
number in Japan, and the number of stores opened in this shopping
mall has reached nearly 800 owning to its customer gathering power
and Mitsui & Co.'s solid customer base.
|3. The Partners' Expertise and
|Mitsui & Co., Ltd.
||Provide brand, knowhow, etc. of "Curiocity"project and
lead to manage this company so as to construct Japan's No.1
shopping portal site
|Senshukai Co. Ltd.
||Provide knowhow of merchandising by utilizing knowhow of
its catalog mail order services and strong retail
||Offer services to consumers by opening its stores or its
customers' stores inside Curiocity Corp., etc.
|Mitsui Knowledge Industry Co., Ltd.
||Provide knowhow of Web development consultation, Web
design, Maintenance of Web server and security
|The Sakura Bank, Limited
||Possess the best competence in retail banking business
among major Japanese city banks. Sakura have been developing
its business strategically focusing on Internet business area
and will establish Japan's first Internet/online specialized
bank, "Japan Net Bank" - tentative name (Mitsui & Co. Ltd.
is to be one of the shareholders).
||Aim to provide its unique and strong electronic settlement
function in the shopping mall by cooperating strategically
with Mitsui & Co., Ltd.
||Provide its leading corporate customers with idea of
opening retail stores in this shopping mall as a part of
|MVC Corporation (*)
||Provide knowhow of IPO based on a new business model and
venture business management.
||(*) Investment promoting type venture capital established
by 11 Mitsui group companies including Mitsui & Co., Ltd.
and the Sakura Bank Ltd. in
|4. Summary of the New
||March, 10, 2000
||Shinjuku-ku Tokyo, Japan
||Yen 490 million
||Mitsui & Co., Ltd. 82.5% (Yen
Senshukai Co., Ltd. 5.0%
Mitsui Knowledge Industry Co., Ltd.
5.0% (Yen 24.50million)
The Sakura Bank Ltd. 4.5%
MVC Corporation 3.0% (Yen
THE SAKURA BANK,