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ACN Newswire

Innovation is the Key Benchmark, Focus on Four Healthcare Industry Sub-Sectors in 2023, Says Jafar Wang of Legend Capital

15 2 月, 2023

HONG KONG, Feb 15, 2023 - (ACN Newswire via SEAPRWire.com) - Legend Capital invested in 29 healthcare companies that officially disclosed financing rounds in 2022, according to the VBDATA Database. Since 2007, Legend Capital has continuously invested in healthcare across industry sub-sectors including innovative drugs, biotechnology, medical devices, diagnostic technology, professional services and supply chain. Overtime, it has built a powerful healthcare ecosystem encompassing more than 140 portfolio companies. Through value-added initiatives including strategic management and business empowerment activities, Legend Capital has the capability to bring far more value to the table in addition to financial resources.Breakthrough and global innovations are the key benchmarks by which Legend Capital judges and selects projects in a changing external environment. How did Legend Capital navigate the challenges of 2022 and how does it see the market in 2023? What are the key healthcare investment themes? In an interview with VCBeat, Jafar Wang, Co-Chief Investment Officer of Legend Capital, shared his perspectives:"Five significant changes in primary market investments"Legend Capital observed several important evolvements in the healthcare investment market during 2022:First, the industry's overall investment pace slowed down, with considerable decrease in deal count, deal size, and the speed of decision-making. Activity level of the healthcare investment market has returned to normalcy after an overheated period of 2020-2021, which now appears on the same level as 2019. Second, there has been significant changes in investors' selection criteria. Institutional investors need to evaluate whether a project has demonstrated breakthrough innovation, whether it is among the top three in its field, and whether it has the potential to compete on the global stage for first-in-class or best-in-class status. As a result, investors look to sector leaders for investment opportunities.Third, there is growing emphasis on exit and exit management.Fourth, emerging markets are receiving more attention as industry participants turn their overseas focus from developed markets to emerging economies. On the one hand, investors have increased their allocation to emerging markets, such as Legend Capital's expansion into Southeast Asia. Similarly, more players are aggressively expanding abroad in the hope that their products and services will reach the wider emerging markets. For Chinese healthcare companies, these markets will be a key destination in the next five to ten years.Lastly, there is general awareness in the industry that the window for biotech companies to transition into biopharma has closed for the moment. Biotech companies should continue to focus on their core competencies in technology innovation and product development, while actively pursue collaborations in manufacturing, supply chain, and downstream commercialization with top-tier industry players."An investment strategy focused on innovation and early-stage opportunities" Regardless of changes to the external environment, Legend Capital continues to uphold the importance of being an investor in value, innovation, in early-stage firms, in core technologies, and taking the long view. Our selection criteria for deals remain consistently high.In 2022, Legend Capital established a Frontier Biotechnology Fund to invest in innovative seed and start-up stage biotechnology and MedTech companies. Although such investments carry higher risks, they could potentially create game-changing results for the industry. This fund will mainly focus on the commercialization of ideas and products from academia, overseas returnees, and well-known spin-off teams or founders. Legend Capital values cutting-edge, innovative, and disruptive technologies, and we are willing to make bigger bets and dedicate more resources towards these seed and angel stage projects.Legend Capital is also devoted to investing in the independence and security of the healthcare supply chain. Two years ago, we put forward the view that an independent and secure supply chain, as well as import substitution, are among the best investment opportunities over the next five years. We are not only focused on the China market, but with an eye to the international potential of investee companies. The idea of supply chain investment is to help resolve bottlenecks faced by the industry while also serving the global market.In terms of Legend Capital's healthcare ecosystem, we are continuously expanding this ecosystem and improving synergies within. In the past, our value-added services were geared towards management guidance, but two years ago, we increased efforts to empower our portfolio companies with industry perspectives. To date, Legend Capital has invested in more than 140 healthcare companies, and established a complete, one-stop value-added service system across research, production, supply chain, and commercialization function. Our presence in sub-sectors from life science tools to preclinical research, clinical CRO, manufacturing and commercialization allow Legend Capital to bring synergy to portfolio companies. As this value-add ecosystem evolve and portfolio companies reap the benefits, oftentimes prospective investees become more receptive to our investment; they see Legend Capital as an investor with abundant industry resources, rather than a pure financial investor.Additionally, Legend Capital cooperates closely with industry-leading firms to bring additional resources to our healthcare ecosystem, which helps portfolio companies in their business development. Through product licensing and strategic collaborations, we have strengthened the connection among the ecosystem, portfolio companies, and industry peers. Working with healthcare companies in the industry not only aids the development of our portfolio companies, but also present potential new opportunities for Legend Capital. For instance, we have been able to generate new investments with our industry partners through efforts such as co-investments, incubation, and spin-offs. This may very well become a common investment practice in the future.Throughout 2022, Legend Capital had five healthcare-related IPOs, including Recbio Technology, R&G Pharmastudies, MicuRx Pharmaceutical, Sipai Health Technology, and Lunit; in addition, nearly 10 portfolio companies were exited through M&A. A RMB 300+ million GP-led secondary transaction was completed during the year after concluding a $270 million one in 2021. We will continue to utilize secondary tools in the future to generate large-scale exits for existing LPs, which also create opportunities to partner with new LPs while supporting our portfolio companies on their journeys, to ultimately achieve a win-win for all parties."Opportunities are bred from innovation" Legend Capital maintains a diversified portfolio of companies in innovative drugs and biotechnology, medical devices and diagnostic technology, professional service and supply chain, and will continue to actively invest going forward. In 2023, our healthcare investment efforts will focus on three main areas.For biotech, Legend Capital will concentrate on small nucleic acid medicines and CGT-related verticals such as gene editing and induced pluripotent stem cells. In MedTech, more focus will be placed on life science tools, import substitution, and consumer healthcare. In professional services and supply chain, with the evolvement of CGT and small nucleic acid pharmaceuticals, CRO and CDMO may present new investment prospects. In addition to investing in pharmaceutical CRO and CDMO, Legend Capital saw success in 2022 with investments in medical device and diagnostic CRO and CDMO so we will continue to invest in these fields.Leveraging our vast portfolio ecosystem, Legend Capital will continue to make significant investments in supply chain independence, including upstream consumables, machinery, and life science tools. To achieve the best outcomes, Legend Capital will collaborate with its leading portfolio companies in the future on co-investments and help them with potential M&A opportunities.In summary, Legend Capital believes that the best investment opportunities arise from breakthrough innovation. For instance, our portfolio company Harbour BioMed recently announced that the U.S. FDA has cleared the IND application to commence clinical trials of its globally first-in-class fully human monoclonal antibody HBM1020 targeting B7H7 (also known as HHLA2) in the U.S. HBM1020 is also the globally first-ever monoclonal antibody targeting B7H7 cleared by the regulatory agency for clinical trials. HBM1020 may present a novel anti-tumor therapeutic complementary to PD-(L)1 therapeutics to patients, especially for PD-L1 negative/refractory patients. Regardless of the outcome, we believe a company will stand a better chance to break out from intense competition when it has the courage and boldness to be the innovator.About Legend CapitalFounded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea. It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors. Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative. For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital). Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)

JCN Newswire

Fujitsu named to FORTUNE Magazine’s 2023 list of “World’s Most Admired Companies” for fifth year running

2 2 月, 2023

TOKYO, Feb 2, 2023 - (JCN Newswire via SEAPRWire.com) - Fujitsu today announced that it has been named to FORTUNE Magazine's 2023 list of "World's Most Admired Companies" for the fifth year in a row.This year, 645 companies were nominated from 27 countries as the "World's Most Admired Companies," of which 324 were selected (12 of which were Japanese companies). Fujitsu was selected in the category for the IT Services industry and was highly-evaluated in areas including Global Competitiveness, People Management, Use of Corporate Assets, Social Responsibility, and Financial Soundness.Conducted through a partnership between Fortune Magazine and Korn Ferry (1), the annually published "World's Most Admired Companies" list is determined based on a survey of a combined 3,760 executives, directors at global companies, and analysts. Companies are evaluated based on nine categories: Innovation, People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial Soundness, Long-Term Investment Value, Quality of Products/Services, and Global Competitiveness. Companies that receive high evaluations in these categories are selected for inclusion in the list.Fujitsu will continue to advance business activities from the perspective of the environment, society, and governance (ESG) in order to realize Our Purpose as stated in the Fujitsu Way-"to make the world more sustainable by building trust in society through innovation"-and further increase its efforts to contribute to the sustainable development of society and the Earth.(1) Korn Ferry:Established in 1969 in the United States, Korn Ferry is a global management consulting firm that works to develop talent and make organizations more effective. It has more than 7,000 employees providing services in over 50 countries.About FujitsuFujitsu's purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$32 billion) for the fiscal year ended March 31, 2022 and remains the top digital services company in Japan by market share. Find out more: www.fujitsu.com. Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)

SeaPRwire

8seneca Releases Disrupting IT Outsourcing Model for Businesses with Skilled Professionals, Improved Efficiency and Reduced Costs

10 1 月, 2023

With outsourcing, companies can expand team capacity and accelerate delivery speedsSINGAPORE, January 10, 2023 – (SEAPRWire) – Singapore-based 8seneca Pte. Ltd. is thrilled to announce a new IT outsourcing model for businesses with its PurePlay IT Team Extensions services, which allow companies to get top industry talents for their teams. 8seneca provides companies with highly competent professionals with a broad range of relevant skills, while allowing them to retain full control over their products and intellectual property. Additionally, 8seneca’s PurePlay IT Team Extensions provide client companies with flexibility on team sizes, along with agile integration on internal teams. “With 8seneca, you can expand your team capacity and delivery speeds,” said CEO Tomas Bucek. “Extension in a software development project is a way to bring in more members to your existing team.” IT outsourcing delivers external service providers and IT-enabled services, such as software development, maintenance, infrastructure services or consulting to derive meaningful business outcomes, Bucek said, in describing other benefits of outsourcing. Outsourcing can include utility services and cloud-enabled outsourcing, helping customers formulate the appropriate strategies; create the best, well-designed contracts; choose the best IT providers; and form deals fostering a win-win situation with the service providers. The main idea of IT outsourcing is to reduce costs, improve efficiency, expedite the time to market and tap the potential of external expertise and intellectual property. By outsourcing IT monitoring services, a company’s IT manager doesn’t need to worry about business hours, vacation or downtime. Through round-the-clock monitoring and support services, 8seneca is responsible for ensuring there’s very little or no downtime. For medium-sized or large-sized companies with in-house IT experts, outsourcing IT services provides them with free time, enabling the in-house talent to focus on more important areas. For example, suppose the in-house team spends time on improving the company’s technologies or internal troubleshooting issues. In that case, the outsourcing providers can assume the otherwise routine tasks of software setup, hardware installation, network security, essential support and more. There are many ways in which IT costs are considerably reduced through outsourcing through 8seneca. First, as external service providers perform most of the routine and time-consuming regular tasks, the need for in-house hires is reduced. Second, outsourcing providers usually offer flexible packages that can grow or fall depending on the company’s business needs. This is not the case with in-house hires who are less flexible. Finally, the costs incurred on hardware and equipment can also be cut down as most of the work is outsourced. IT outsourcing also provides increased security and compliance for companies. Among the major IT components, security and compliance are integral. While there may be in-house security experts, however, they may be skilled in only certain industries or businesses. Moreover, a crucial aspect like compliance cannot be managed by a single individual or a small team. On the flip side, outsourcing security and compliance ensures it is managed by the best experts. 8seneca also offers relocation consulting. Selected IT experts can use 8seneca’s expertise in relocation services and, after an initial period of offshore work, can relocate to the client´s location. Based in Singapore, 8seneca Pte. Ltd. is a global company with offices in Vietnam (Ho Chi Minh City and Hanoi); Nitra, Slovakia; and London. For more information, visit 8seneca.com. About 8seneca Pte. Ltd. 8seneca Pte. Ltd. is a global Pure Play IT team extensions company based in Singapore, solely focused on b2b service without having own developed products for b2c market. 8seneca is connecting the expertise in remote staffing and relocation consulting. 8seneca helps companies to expand their teams with highly competent professionals with broad range set of relevant skills. The team extension services allow connecting top industry talents with superior projects and companies around the world with the possibility of relocation. Media Contact Brand: 8seneca Contact: Tomas Bucek, CEO Website: https://8seneca.com/ SOURCE: 8seneca The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)

JCN Newswire

Mitsubishi Corporation and ENEOS launch a Joint Venture for Last One Mile Delivery Business based at Gas Stations

5 1 月, 2023

TOKYO, Jan 5, 2023 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Corporation and ENEOS Corporation are pleased to announce our agreement to establish a joint-venture company (JV) aimed at optimizing delivery operations by leveraging gas stations (service stations/SS).The business shall take advantage of ENEOS's SS network, which spans more than 12,000 locations across Japan, to improve overland shipping throughout the country. With each SS functioning as both a last-mile distribution point and temporary storage facility, this new business promises to shorten the final legs of transport, which is from the final delivery point to the final destination. The analysis results(1) has already shown that using SS as distribution points can reduce the overall mileage of overland deliveries compared to direct delivery from large warehouses, which should also reduce the burden on drivers and delivery costs.Furthermore, the fact that SS tend to be already optimized to accommodate smooth inbound and outbound traffic makes them ideal logistics hubs. Using ENEOS's existing SS network should also help to minimize any additional costs associated with setting up the delivery points.In the delivery industry, the growth of online shopping has increased home deliveries, which has led to greater demand for more efficient last-mile services. Meeting that demand will require more final distribution point and flexible logistics frameworks. MC and ENEOS have been conducting trials that use some of ENEOS's SS as distribution points. We have now agreed to establish a JV with the aim of clarifying the business entities and accelerating the verification of commercialization, and we will conduct demonstration as a JV with shippers (including EC companies, delivery companies) and delivery partners at SS, with the aim of launching the business. A large-scale demonstration project is now in the works to assess the business's feasibility and scheduled to begin in fiscal year 2023, it shall concentrate on 100 SS located in Tokyo and its surrounding three prefectures, where high demand for home delivery is expected. The plan is to grow the business to cover between 500 and 1,000 SS by fiscal year 2025 and commence work in fiscal year 2026 to expand operations nationwide. Our joint venture also plans to develop a delivery solutions app, which shall leverage data and expertise gleaned through the trials in connection with delivery-management systems used by shippers to promote smooth last-mile operations. We are confident that successful rollout of this app should help to further ease the burden and raise efficiency throughout the industry. MC has made digital transformations (DX) a key objective in Midterm Corporate Strategy 2024. During that time, MC aims to enhance its cross-industry DX functions and parlay real-world DX projects into greater business value. By effectively combining analog and digital operations, MC hopes to develop a wide range of societal solutions, thereby growing industry at large and paving the way to more richly and regionally flavored future communities. One of the ENEOS Group's envisioned goals stated in its Long-Term Vision to 2040 is to create value by transforming our current business structure. ENEOS is working to create lifestyle support services and grow nationwide SS network into a platform that provides total services for all needs, according to the customer's stage of life. Through this delivery optimization business model using ENEOS's SS network, we are taking an important step towards raising the efficiency of last-mile deliveries, which will also contribute to promote a low-carbon society. (1) Analysis by HERE TechnologiesInquiry RecipientMitsubishi CorporationTelephone:+81-3-3210-2171Facsimile:+81-3-5252-7705 Copyright 2023 JCN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

ESG reporting: Hang Seng companies have transparency shortcomings

15 12 月, 2022

HONG KONG, Dec 15, 2022 - (ACN Newswire via SEAPRWire.com) - Companies in the Hang Seng Index rank in the midrange internationally in terms of the quality of their ESG reporting. This is the finding of the Global ESG Monitor 2022 (GEM), Regional Report Hong Kong/China (https://globalesgmonitor.com/download-report/), published today. The GEM is considered an international leader in analysing the non-financial reporting of leading companies in Europe, North America, Asia and Australia. According to the latest GEM study, the companies listed in the Hang Seng Index score an average of 57 points out of a maximum possible 100 points for the transparency of their non-financial reports. This result places the Hang Seng Index at the lower end of the midrange among the total of ten international indices from North America, Europe, Asia and Australia that were examined as part of the GEM, and ranks just above the level of S&P Asia (56 points) and Australia's ASX50 (53 points).At the top of the index league are three companies - sports equipment supplier Anta Sports Products (02020.HK), financial services provider Hang Seng Bank (00011.HK) and Internet services provider and software developer Tencent Holdings (00700.HK) - on a score of 77. Sands China (01928.HK) and HSBC Holdings (00005.HK) rank the 4th and 5th among the blue chips with 75 and 74 points respectively. Other companies among the top ten include Lenovo Group (00992.HK), Power Assets (00006.HK), Henderson Land Development (00012.HK), China Mobile (Hong Kong) (00941.HK) and Hang Lung Properties (00101.HK). With a rate of 97 percent, a generally high level of willingness exists among Hang Seng Index companies to base their non-financial reporting on a standard international framework. In a global comparison, however, they tend to be more focused with an average of 6.7 referenced frameworks and standards. This is also reflected, among other things, in the length of the reports, which rank among the most concise of the ten indices examined. "As you go through the Hang Seng data, you then notice that this focus is not always an advantage," comments Ariane Hofstetter, co-founder and Head of Research and Data Science at GEM. "In many cases, there's a lack of important details that would lead to better comprehensibility, reliability and comparability of the data."Contextual information such as company size, number of employees and product and service portfolio is comparatively well established in non-financial reporting. Four out of five companies surveyed (81 percent) also describe the environmental parameters in which they operate. However, Hang Seng companies are less likely to address socioeconomic or political conditions (75 percent and 54 percent respectively). And only one-third (32 percent) from this group report on their value chains. "Greater sustainability nevertheless also requires close collaboration along the entire supply chain. How well Hang Seng companies achieve this undertaking remains in part an open question. Because here, too, there's a lack of information that enables the information to be classified," notes Michael Diegelmann, co-founder of GEM. "Although 83 percent of the reports contain descriptions of supply chains, once again there's a lack of detail to help rank the risks associated with the supply chain." For example, slightly less than a third of the companies provide information on the type of suppliers they do business with, and just under half state the estimated number of suppliers along the supply chain.The relevant topics of Environment, Social and Governance are covered by a majority of Hang Seng companies in their non-financial reports. Around a third, for example, say they are already climate-neutral. A further 44 percent aim to achieve this objective in the future. In contrast to this statement, however, only three-quarters of companies identify their main sources of emissions in their reports and outline the biggest challenges they face in terms of climate-related emissions.In the area of social issues, the topic of employee and human rights is not one of the most present in Hang Seng reporting. For example, 82 percent fail to state the extent to which specific incidents of discrimination and harassment have occurred. In contrast, the reports reflect more transparency on the subject of health and safety, where 89 percent of companies state their position - even though only seven out of ten companies report more specifically on "the number and rate of fatalities due to work-related injuries" and only a quarter provide information on "the number and rate of work-related injuries with serious consequences".When it comes to governance, reporting by Hang Seng companies tends to focus more on structures and less on the functioning of the supervisory board. Around seven out of ten companies report how they ensure or promote their supervisory boards' collective knowledge about financial and non-financial issues and decisions. Only just under two-thirds of the companies (64 percent) report on the supervisory board's role when it comes to assessing environmental and social risk management. The scores are particularly low in connection with critical concerns and issues reported to the supervisory board. Here, only a quarter of the companies provide information, with only four percent then being specific and outlining the total number of critical concerns that were communicated to the supervisory board. "One reason many reports lack detail and transparency is that they are prepared according to the HKEX ESG reporting guidelines," is Diegelmann's assessment. "This is where it then becomes noticeable that these guidelines have lower minimum requirements and don't go into much depth, especially compared to the Global Reporting Initiative requirements."Among Hang Seng Index companies, it is also striking that there is little willingness to submit the non-financial report to an auditor. Only just under one-third of issuers (32 percent) issue a corresponding audit engagement. It is striking that in 70 percent of the cases no information was provided on the depth of the audit and only 16 percent of the reports were audited with "reasonable assurance"."Hang Seng companies are generally convinced that their development towards greater sustainability must be accompanied by appropriate reporting," is the conclusion of Joanne Chan, Regional Partner Hong Kong and Managing Director at LBS Communications Consulting Limited. "However, an enormous amount of work will be required for Hang Seng companies to ensure that their reports can contribute to sustainable change through transparency."Full report : https://globalesgmonitor.com/download-report-form/For more information on the rating criteria and details of the report, please visit https://lbs-comm.com/global-esg-monitor-2022-report-scorings-is-out-now-two-hong-kong-companies-were-ranked-top-ten/About the Global ESG Monitor (GEM)The Global ESG Monitor (GEM) is a unique research initiative to examine transparency in non-financial reporting of the largest companies in the world. The GEM monitors, analyzes and reports on the transparency of non-financial ESG reporting using the GEM ASSAYTM, a proprietary research tool adapted annually in response to evolving conditions and developments. The operationalization of transparency underlying the GEM ASSAYTM is based on the relevant guidelines of Global Reporting Initiative (GRI), ISO Standard 26000, World Economic Forum (WEF) and Accountability. If you have any media enquiries, please contact LBS Communications Consultants Limited.www.lbs-forum.comJoanne Chan Tel : (852)3679 3671 Email : jchan@lbs-comm.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Investigation and analysis of the three major challenges and advantages of developing business in the GBA

6 12 月, 2022

HONG KONG, Dec 6, 2022 - (ACN Newswire via SEAPRWire.com) - The Hong Kong Export Credit Insurance Corporation (HKECIC) and the Hong Kong Trade Development Council (HKTDC) have, for the first time, jointly released a survey study (Hong Kong - the Business Platform to Capitalise on Greater Bay Area Opportunities in the Post-pandemic Era). Dr Patrick Lau, Deputy Executive Director, HKTDC (L) and Terence Chiu, Commissioner, HKECIC (R)Irina Fan, Director of Research, HKTDCThe report found that Hong Kong companies are facing three major challenges: low-price competition, unfamiliarity with the Mainland legal/regulatory regimes, and financing and customer credit risks. However, opportunities coexist alongside the challenges. The companies surveyed expressed that Hong Kong enterprises have considerable unique advantages in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) market, including Hong Kong's brand reputation and capacity to bring in high-quality foreign products. As such, Hong Kong companies are advised to make good use of their advantages and use the GBA as a springboard to further develop the huge domestic sales market in the Mainland, while diversifying the risks of relying on the international market.Terence Chiu, Commissioner, HKECIC, said: "The HKECIC and the HKTDC have jointly conducted a research study for the first time as many parts of the world, including Hong Kong and the Mainland, see economic and trade activities gradually restarting. Given the uncertainty in overseas markets such as Europe and the United States, the domestic market in the Mainland can provide another option for Hong Kong companies, with the GBA being the ideal springboard. The HKECIC has always attached great importance to the Mainland market and began to underwrite buyers decades ago, and indeed the Mainland is now our biggest insured market after the United States. Riding on the development of the GBA, we will continue to support Hong Kong companies to seize the opportunities offered through the dual circulation strategy that can help them develop their business in the Mainland market."Dr Patrick Lau, Deputy Executive Director, HKTDC, said: "With a GDP of about US$1.96 trillion and GDP per capita of over US$22,500, the Guangdong-Hong Kong-Macao (GBA) is clearly a bright spot for business growth amid challenging market conditions affected by the COVID-19 pandemic, geopolitical issues, interest rate hikes and inflation. The HKTDC has been strongly advocating the GBA, and our GoGBA digital platform has reached a viewership of more than 590,000 since its launch over a year ago, which demonstrates the business community's keen interest in the GBA opportunity. The HKTDC is very pleased to work with the HKECIC to conduct this research to further understand the pain points and needs of Hong Kong companies in developing the GBA market, and to collect opinions from and brainstorm with industry experts so as to make the GBA opportunity accessible by more Hong Kong companies."In the third quarter of 2022, the HKTDC conducted a questionnaire survey on the "Greater Bay Area Domestic Market Development Strategy", surveying 413 Hong Kong companies that have either started developing domestic sales in the GBA or are planning to do so. Over 95% of the surveyed companies said they are facing various challenges, particularly those related to the pandemic such as disruptions in supply chain and production/sourcing activities as well as stringent border control measures. Besides, declining orders from overseas markets and spiralling costs have also dented business development.Almost 70% of the respondents have sold directly to the Mainland buyers. Based on the weighted average amount, sales to the Mainland buyers account for 37.5% of the overall average annual sales of the respondents. Among them, over 90% have sold to Guangdong Province/the nine the Mainland GBA cities.Shenzhen, Guangzhou and Dongguan are top three GBA cities in which Hong Kong companies have most interestThe Mainland GBA cities in which the companies surveyed are most interested in expanding into include Shenzhen (73.8%), Guangzhou (68.8%) and Dongguan (43.6%). Hong Kong companies mainly plan to sell products manufactured or sourced by them in the the Mainland as well as goods purchased from abroad to the GBA. For sales channels, most of them sell to the Mainland importers/wholesalers (48.2%) and other business-to-business (B2B) channels. Almost 40% also sell directly to the Mainland consumers through websites or third-party platforms. Less than 14% of the surveyed enterprises have so far embarked on using e-commerce and internet applications to directly develop the GBA market. However, 65.1% would consider using these e-commerce applications to explore the Mainland market directly in the future.Unfamiliarity with operation of the Mainland domestic market is biggest pain point for Hong Kong companiesMany survey respondents said they encounter various difficulties in expanding sales in the GBA, such as the Mainland market being flooded with cheap products (36.8%) and an unfamiliarity with the Mainland laws and regulations/product standards (35.8%). Some Hong Kong companies also mentioned issues relating to financing and customer credit (25.9%), including the lack of information on the credit background of the Mainland clients, capital shortage (23.5%), and the high risks of sales on credit (22.0%).In addition, most Hong Kong companies would demand the buyer to make an advance payment (57.9%) or they would choose to bear the risks themselves (43.6%) in managing accounts receivable in the Mainland domestic sales. There are also a number of Hong Kong companies which buy credit insurance (14.0%) either directly in Hong Kong or through banks in Hong Kong.To deal with the challenges involved, the companies surveyed said they need various support services, including promotion activities targeting the Mainland markets to identify buyers (33.2%) and marketing strategies for the GBA/Guangdong Province (31.5%). They also need support for a variety of financing and risk management services. Hong Kong enterprises have unique advantagesIn addition to the questionnaire survey, the HKTDC also conducted in-depth interviews with nine selected Hong Kong companies and industry representatives to better understand the views of the trade on how to bolster sales in the GBA.Irina Fan, Director of HKTDC Research, said: "Hong Kong companies should make more use of innovative technologies to map out e-commerce solutions and build integrated online/offline sales channels in regard to domestic sales in the Mainland, enhancing their production and operational efficiency to help them seize GBA opportunities in the post-pandemic era."The companies surveyed believe that Hong Kong possesses various advantages in developing the GBA domestic market, including the good reputation enjoyed by Hong Kong brands or Hong Kong products on the Mainland (48.4%), and Hong Kong being good at bringing in quality and trendy products from overseas (43.3%).The report also showed that products that are "Made in Hong Kong", "Made by Hong Kong" and "Designed by Hong Kong" are all well received in the Mainland market. As such, Hong Kong companies should formulate the right business strategy targeting the domestic market as part of their plan to develop the GBA market.Domestic sales risk management is crucialAccording to the report, enterprises engaging in domestic sales in the Mainland or exports are inevitably exposed to certain market and customer credit risks. As credit transparency in the Mainland is rather low, Hong Kong companies must take risk management seriously and seek professional services that can provide due diligence checks when necessary to find out about the business status and credit background of their clients. Apart from the option of avoiding sales on credit to clients, Hong Kong companies should also consider using such tools as credit insurance to strike a balance between market development and risk control.References- HKTDC Research Portal: http://research.hktdc.com/- Hong Kong - the Business Platform to Capitalise on Greater Bay Area Opportunities in Post-pandemic Era: https://research.hktdc.com/en/article/MTIzNDA4NTczNw- Photo download: https://bit.ly/3h5tFJMAbout HKECICHKECIC was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115). Through the provision of export credit insurance services, HKECIC protects Hong Kong exporters who trade on credit terms with overseas buyers against non-payment risks and helps them conduct export business in a prudent manner. The HKSAR Government provides a guarantee of HK$55 billion for HKECIC's contingent liability.About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in The Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the the Mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.Media enquiriesHKECICCorporate Communication DivisionGina SanTel: +852 2732 9998Email: gina.san@hkecic.comHKTDCCorporate Communication & Marketing DepartmentKate ChanTel: +852 2584 4239 Email: kate.hy.chan@hktdc.org Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

JCN Newswire

NEC and SINAI Technologies Collaborate to Create Pathways to Decarbonization

2 12 月, 2022

Tokyo and San Francisco, Dec 2, 2022 - (JCN Newswire via SEAPRWire.com) - NEC Corporation and SINAI Technologies lnc., a software company that supports the transformation of companies and organizations to achieve their net-zero targets, will commence collaboration on businesses that support decarbonization in November 2022.In December 2021, NEC established an ecosystem-based corporate venture capital (CVC) fund, the NEC Orchestrating Future Fund (NOFF), which accelerates collaboration with customers and partners and introduces new services, knowledge, and technologies through investing in startups in order to lead an ecosystem for social value creation(1).NOFF invested in SINAI in September 2022, recognizing that SINAI's decarbonization business could greatly contribute to the achievement of NOFF's vision. NEC and SINAI have now decided to strengthen their relationship, aiming to create new social value and contribute to a carbon-free society.By creating a partnership between NEC's GreenGlobeX environmental performance management solution and SINAI's Decarbonization Intelligence Platform for Reducing CO2 Emissions, the two companies will combine NEC's know-how in efficiently collecting and aggregating environmental data from multiple international bases, with SINAI's expertise in measuring and reporting Scope 1, 2 and 3 emissions(2), calculating baselines for future CO2 emissions forecasts, formulating scenarios for low-carbon emissions, carbon pricing, and value chain management.As a result, the two companies will be able to provide total support for efforts to decarbonize by making data collection and storage visible, then analyzing collected data and proposing CO2 reductions.Going forward, the two companies will pursue new business opportunities that combine NEC's carbon management business with SINAI's emission visualization and reduction platforms for specific industries. Through this, the two companies aim to create an ecosystem for clients seeking to achieve decarbonization.Kazuhiko Shiraishi, Senior Vice President, Public Solutions Business Unit, City Infrastructure Solution Division, NEC, said, "Under the Mid-term Management Plan 2025, NEC has positioned 'Carbon Neutral-Related Business' as a growth business, and has pledged to contribute to the realization of a carbon-free society by utilizing IT technologies and data management. As part of this collaboration with SINAI, which has a strong track record of collaborating with prominent companies, particularly in South America, we will be able to provide not only visualization of CO2 emissions, but also a broad range of solutions, from predicting future emissions to proposing specific methods of reducing emissions. Together with SINAI, we will contribute to the realization of carbon neutrality for customers and communities throughout the world."SINAI Founder and CEO Maria Fujihara, said, "We are excited to be working with NEC to help more global companies develop a strategy for reaching net zero. As a partner, NEC shares our goal of reversing climate change, their team adds a high level of expertise, and they bring an innovative approach to the use of technology. Together, we can make a bigger impact, both in Japan and around the world."(1) Announced on December 17, 2021: "NEC establishes new US$150 million CVC fund"www.nec.com/en/press/202112/global_20211217_01.html(2) Scope 1 refers to a company's own direct emissions of greenhouse gases. Scope 2 refers to indirect emissions associated with the use of electricity, heat, and steam supplied by other companies. Scope 3 refers to indirect emissions other than Scope 1, and 2.About NEC CorporationNEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at www.nec.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)

CIIE 2022 will Host 14 Brazilian Food and Beverage Companies

5 11 月, 2022

HONG KONG, Nov 5, 2022 - (ACN Newswire via SEAPRWire.com) - The Brazilian Trade and Investment Promotion Agency (ApexBrasil) is coordinating Brazilian companies' participation in the China International Import Expo (CIIE), one of the largest multi-sector trade shows in China. This year the Agency is in charge of organizing individual booths for 14 companies at the food and beverage pavilion. The event is a great opportunity for Brazilian companies to develop new contacts and relationships with specialized professionals and potential business partners, as well as introduce their products to the Chinese public. Due to the Covid-19 pandemic travel restrictions, most Brazilian companies will participate through local their representatives. In addition to individual booths, on-site exhibitors will have access to a fully equipped kitchen, a meeting room and a sample storage room. The agenda also includes a 'Brazil Coffee Day', organized in partnership with the Brazilian Consulate in Shanghai and the 'Brazil Cooking Show'.For the first time, the CIIE is providing e-CIIE 2022, a digital platform for participants. The platform includes four major sections: showroom, news release, live streaming and matching exhibitors and buyers. Mofocom China invited ApexBrasil to oversee the Brazil National Pavilion section of the e-CIIE 2022. ApexBrasil is also supporting the Consulate General of Brazil in Shanghai to set up the Brazil High Tech pavilion at the trade show. The pavilion will showcase exhibitors from 19 high tech startups.China is Brazil's main trading partner, accounting for 31.3% of Brazil's exports and 21.7% of its imports in 2021. Trade between the two nations reached an historic record of US$ 135.5 billion in 2021, with Brazil recording a surplus of US$ 40.25 billion. That same year, Brazilian food and beverages exports to China totaled US$ 8.17 billion. The main products in the sector's export list were beef, sugars and molasses, and pork.CIIEThe CIIE (China International Import Export) is the first national import fair in the world. It has been held by the Chinese government annually since 2018. The first edition of the event held in 2018 was attended by more than 100 countries and 150,000 buyers. In 2019, more than 500,000 visitors, 3,800 exhibitors and 700 media outlets participated.SERVICEEVENT: China International Import Expo (CIIE)DATE: November 5th to 10thWHERE: Shanghai, China Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ApexBrasil Agency and Alibaba Signed a Memorandum of Understanding

6 9 月, 2022

HONG KONG, Sep 6, 2022 - (ACN Newswire via SEAPRWire.com) - The Brazilian Export and Investment Promotion Agency (ApexBrasil) held a memorandum of understanding (MoU) signing ceremony with Alibaba Group to deepen their cooperation on cross-border e-commerce platforms during the China International Fair for Trade in Services on September 3, 2022. Under the framework of the MoU, the two parties will expand cooperation and strengthen Brazilian enterprises' e-commerce, cross-border trade and digitalization, thus accelerating the deepening of digital cross-border trade, and creating more opportunities for Brazilian products to be exported to Asian and global markets through e-commerce.Under the framework of the MoU, the "Made in Brazil" national pavilion will be launched on Alibaba's international website. 100 local companies with e-commerce experience in the platform's hottest-selling industries will join "Made in Brazil" label, many of them receiving settlement support and subsidies from ApexBrasil. Alibaba.com provides exclusive services for operations as well as B2B distribution services for customized Brazilian exports. In addition, in order to cultivate Brazil's digital economy talents and support the development of the local e-commerce ecosystem, ApexBrasil and Alibaba agreed to jointly promote a digital economy training program in Brazil to educate Brazilian entrepreneurs as well as professionals and students in digital trade and relevant fields and provide a solid foundation for the industry's future development.In 2021, Brazil's e-commerce sales increased by 35%. Brazilian companies' sales in China through Alibaba's e-commerce platform are projected to reach US$ 253 million, with food products particularly in high demand by Chinese consumers. ApexBrasil has established close cooperation with Alibaba. In addition to promoting Brazilian companies' global sales, ApexBrasil is also taking this opportunity to enhance Brazilian companies' understanding of the Chinese market and its opportunities, hence deepening their cooperation with Alibaba's retail channels. With continuous support, ApexBrasil is accelerating the digitalization and globalization of Brazilian SMEs and Brazilian companies are enthusiastic about joining Alibaba's e-commerce platforms. Since 2021, ApexBrasil has reached 370 Brazilian companies interested in selling through Alibaba.com with the Acceleration program in Digital Platforms.The expanding cooperation between ApexBrasil and Alibaba over the years has carried out fruitful results. Since June this year, Brazilian companies and Alibaba successfully promoted the intention of 2 key companies to export their products to China, Brazilian specialty coffee SANTA MONIKA, a well-known Brazilian brand, and the juice brand NATURAL ONE. The signing and approval of the two contracts are expected to be completed in September with the first order placed in October. They will cooperate with Alibaba Group's hybrid (online and offline) platform to introduce Brazil's high-quality products to the Chinese market.Lucas Fiuza, Business Director of ApexBrasil said: "ApexBrasil has been working diligently to promote international e-commerce so that Brazilian companies can expand their export options to include e-commerce. Specifically, I would like to highlight the successful projects we have started with Alibaba.com so that more Brazilian companies can learn how to use this international platform for selling their products. I would also like to send a special message to all companies who are following us. Brazil is the right place for your business, and ApexBrasil is how you find the best deals. Think Big, Think Brazil." Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

ACN Newswire

Essex Bio-Technology Included in “Forbes Asia’s Best Under A Billion 2022”

16 8 月, 2022

HONG KONG, Aug 16, 2022 - (ACN Newswire via SEAPRWire.com) - Essex Bio-Technology Ltd ("EssexBio" or the "Group", Stock Code: 1061.HK) is pleased and honoured to announce that it is included in "Forbes Asia's 200 Best Under A Billion 2022" - for the Group's outstanding long-term sustainable development across a variety of metrics.（Source: forbes.com）Only 200 companies were selected out of 20,000 publicly traded companies (with annual sales of between $10 million and $1 billion) in the Asia-Pacific region. The 200 companies were carefully picked based on Forbes' List Methodology ^ of quantitative criteria and qualitative screens. EssexBio would like to extend its gratitude to all stakeholders for their contributions. For sustainable long-term growth and enhancing shareholder value, EssexBio will continue to strive for excellence by embracing innovation to develop first-in-class and best-in-class products - providing solutions for Tomorrow's healthcare problems, Today. About Essex (1061.HK)Essex Bio-Technology Limited is a biopharmaceutical company that develops, manufactures and commercialises genetically engineered therapeutic b-bFGF (FGF-2), having six commercialised biologics marketed in China since 1998. Additionally, it has a portfolio of commercialised products of preservative-free unit-dose eye drops and Shilishun (Iodized Lecithin Capsules) etc. The products of the Company are principally prescribed for the treatment of wound healing and diseases in Ophthalmology and Dermatology, which are marketed and sold through approximately 10,500 hospitals and managed directly by its 43 regional sales offices in China. Leveraging on its in-house R&D platform in growth factors and antibodies, the Company maintains a pipeline of projects in various clinical stages, covering a wide range of fields and indications.^Forbes' List Methodology (Source: forbes.com)This list is meant to identify companies with long-term sustainable performance across a variety of metrics. From a universe of 20,000 publicly traded companies in the Asia-Pacific region with annual sales above $10 million and below $1 billion, these 200 companies were selected. The companies on this list, which is unranked, were selected based on a composite score that incorporated their overall track record in measures such as debt, sales and earnings-per-share growth over both the most recent fiscal one- and three-year periods, and the strongest one- and five-year average returns on equity. Aside from quantitative criteria, qualitative screens were used as well, such as excluding companies with serious governance issues, questionable accounting, environmental concerns, management issues, or legal troubles. State-controlled and subsidiaries of larger companies were also excluded. The criteria also ensured a geographic diversity of companies from across the region. The list uses full-year annual results, based on the latest publicly available figures as of July 11, 2022. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

SeaPRwire

Singapore’s Opportunity under China’s Concept Stocks Depression

3 8 月, 2022

Author: Michael(Mingyu) Li The New York Stock Exchange announced on 21 July 2022 that it had signed a memorandum of understanding with the Singapore Stock Exchange Group, which included cooperation in the listing of the Company on the two exchanges, the development of new ESG products and services, support for the development of index products of the New Stock Exchange Group and ICE Data Indicators, a subsidiary of the New York Stock Exchange, and the exploration and launch of new ETF products. The move was interpreted by the industry as an important preparation made by the Singapore Exchange for the return of Chinese concept stocks. In fact, since the "Didi incident" in 2021, the booming IPO market of Chinese concept stocks has experienced a sudden downturn. Over the past year, with the cold reception of Chinese concept stocks, Singapore has become a competition arena for various intermediaries in the US capital market and enterprises in Chinese mainland. Singapore's corporate and capital markets have ushered in a historic opportunity to integrate into the world. I. Chinese concept stocks plunged Since October 9, 1992, Brilliance Auto (NYSE: CBA), as the first Chinese company listed overseas, has landed on the New York Stock Exchange. The Chinese concept stocks have experienced 30 years of ups and downs. Up to now, there are more than 280 Chinese companies listed in the United States, approaching the digital mark of 300. Behind the simple figure of "30 years, 300 enterprises" are countless exciting business legends, and it is also the grand history of Chinese enterprises' integration into the global capital market. Although Sino-US relations have taken a sharp turn for the worse in recent years, the number of Chinese companies listed in the United States has not been affected before the first half of 2021, and has remained at around 30 or 40 a year (see figure below) However, since the "Didi incident" at the end of June 2021, the environment for Chinese companies to list in the United States has suddenly dropped to a freezing point. Of the 41 Chinese concept stocks listed in 2021, 38 completed their IPO in the first half of the year before the "Didi incident", while only 3 Chinese companies were listed in the United States in the second half of the year. As of the end of July 2022, only seven Chinese companies (including one OTC transfer) have been listed successfully in the U.S. Behind the sharp drop in the number of listings is a "regulatory storm" in China and the United States over Chinese concept stocks. In the United States, the SEC's Holding Foreign Companies Accountable Act makes it clear that U.S. listed companies need to disclose audit papers, or face delisting risk; At the same time, the SEC has added a large number of questions about the VIE structure and the impact of industry policies on the Chinese concept companies submitting the prospectus, which has overwhelmed these companies to be listed. In China, China National Internet Information Office has made clear the pre-set rules for data security verification for overseas listed companies; On December 24, 2021, the China Securities Regulatory Commission (CSRC) issued the Measures for the Administration of Overseas Securities Issuance and Listing of Domestic Enterprises (Draft for Solicitation of Opinions), which specifies the procedures for filing with the CSRC for overseas listing of domestic enterprises. While the number of newly listed companies has plummeted and there has been a regulatory storm, the listed Chinese concept stocks have also suffered a severe fall in the secondary market in the past period. According to Wind data, as of April 2022, in just one year, the share prices of 49 Chinese concept companies in the United States have fallen by 90% from their highs, while the share prices of 113 companies have fallen by 80%. A large number of investors in the Chinese concept stocks have fallen short of success. II. Singapore's Cooperation with Wall Street Looking back over the past few decades, Singapore's interaction with Wall Street in the capital market has not been much. According to the statistics of Office Address in Singapore, as of the end of June 2022, there were only 28 Singaporean companies listed in the United States. Among them, there are also 9 SPACs. Of these 28 companies, 17 have completed IPO after 2020. Excluding SPAC, 9 of the 19 US-listed Singapore companies went public after 2020. (see figure below) In other words, the number of companies listed in the U.S. in Singapore in the past two years is the sum of the past few decades, and it is still increasing. The reason is that, on the one hand, after the cold of Chinese concept stocks, various intermediaries in the US capital market (securities firms, lawyers, auditors, etc.) went to Singapore one after another to explore projects. During my recent two-month business trip in New York, almost all the relevant capital market institutions concerned were discussing Singapore. On the other hand, the SEC and the Exchange also offer special preferential treatment to Singaporean enterprises. One obvious difference is that after the China concept stocks submitted their prospectus to the SEC, most of them received dozens of questions in the first round. During the same period, Singapore companies that submitted their prospectuses to the SEC often received no more than ten questions in the first round, which led to a significant advantage in the efficiency of Singapore companies' listing in the United States. The listing of NIO on the Main Board of the Singapore Stock Exchange on May 20, 2022 and the signing of the contract between the New York Stock Exchange and the Singapore Stock Exchange Group on July 21, 2022 have also brought to light the opportunity for Singapore's capital market to accept the return of Chinese concept stocks and serve as a secondary listing and tertiary listing destination. III. How should Singapore seize this rare opportunity First of all, for the growing Singapore enterprises, cooperating with Wall Street and entering the world's most liquid capital market, they can obtain more capital to help the enterprises develop. This historical opportunity can be firmly grasped by showing the world one's own image through being a listed company. Secondly, for the investors in Singapore, in the process of the excellent Singapore enterprises moving to the global capital market, both regular IPO and SPAC contain a large number of investment opportunities worth exploring. A number of outstanding Singapore investment institutions have already taken active actions. For example, Horizon Holdings and StarOn Capital Group, a Singapore-based capital group, recently planned to set up Pre-IPO funds in China and Singapore to explore outstanding Singaporean companies. Thirdly, for Singapore's own capital market, it continuously improves the mechanism, devotes itself to improving liquidity, and attracts excellent Chinese concept stocks to be listed twice or thrice in Singapore, or even return directly. This is also a once-in-a-lifetime opportunity. In sum, the times create heroes. In the face of the downturn of China's concept stocks, Singapore should take the opportunity to encourage the excellent enterprises supporting Singapore to participate in the global capital market in various ways. On the other hand, it will optimize its capital market structure to attract outstanding Chinese concept companies. It is expected that more and more Singaporean enterprises will create legends on Wall Street and Singapore will become the second hometown of more and more Chinese concept stocks. (The writer is the Chairman of Horizon Holdings, Partner of StarOn Capital Group and financial investment adviser, Director of Jinang Qianfeng Capital Management Co., Ltd., and a senior capital operations expert.)

JCN Newswire

Fujitsu and Salesforce Japan start collaboration on healthcare solutions for the Japan market

21 6 月, 2022

TOKYO, Jun 21, 2022 - (JCN Newswire via SEAPRWire.com) - Fujitsu and Salesforce Japan Co., Ltd. (hereinafter Salesforce Japan) today announced the start of a collaboration to create new digital solutions for the healthcare sector in the Japan market. The two companies will promote this initiative by leveraging Fujitsu's expertise in the trusted handling of medical and pharmaceutical data and computing technologies and Salesforce Japan's track record and expertise as an industry leader in customer relationship management (CRM). As the first step of their collaboration, Fujitsu and Salesforce Japan will work together to develop digital solutions for insurance companies in Japan. The two companies will cooperate with insurance companies and medical institutions to support the development of insurance products that optimize the risk assessment of diseases by individuals based on data such as the possibility of diseases predicted by AI from medical and health data. The two parties aim for commercialization of the new solutions in Japan in fiscal 2023.Through the new solutions, Fujitsu and Salesforce Japan will support the establishment of new product models for insurance companies and promote the broad use of personalized insurance products. The two companies thereby aim to contribute to the resolution of societal and economic issues including health concerns related to a variety of diseases associated with the extending life expectancy of individuals, the increase in treatment costs due to advanced medical care, and the cost of living in the retirement period.BackgroundAs society confronts the challenges presented by declining birth rates, aging populations, new threats to public health, and changing lifestyles, insurance companies are working to provide personalized insurance products that are more closely tailored to each applicant?s unique needs. To contribute to this effort, Fujitsu and Salesforce Japan, who started comprehensive cooperation on a global level in 2010, decided to further strengthen their relationship and expand their business through collaborative efforts to create solutions in the healthcare field. Through the development of AI solutions that can predict individual disease risks, the two companies aim to support the development of optimized insurance products based on medical and health data provided by insurers and healthcare providers and to optimize business processes across the entire insurance business.In this way, Fujitsu and Salesforce Japan will support insurance companies in offering prospective policyholders optimal insurance products and creating a new insurance model based on personal data that also covers prevention, diagnosis, treatment, and prognosis in a detailed and comprehensive manner.Roles and responsibilities within the collaborationFujitsu:- Development of a system in cooperation with medical institutions that enables the trusted use of medical data from electronic medical records based on the consent of patients- Development of personalized healthcare services based on Fujitsu's own analysis to detect signs of a specific disease by utilizing "Fujitsu Computing as a Service (CaaS)," a service portfolio that makes it easy for users to take advantage of advanced computing and software technologies such as AISalesforce Japan:- Comprehensive integration and analysis of a wide range of patient medical data to visualize the patient journey(1)- Application of products to realize personalized medical experiences and patient-centered digital transformation (DX) (including ?Health Cloud,? a healthcare industry-specific CRM system that serves as the axis of patient-centric DX; ?MuleSoft,? to integrate external data and ?Tableau,? to analyze patient data)Future plansFujitsu and Salesforce Japan will jointly develop digital solutions for insurance companies in Japan and aim for commercialization in fiscal 2023. Moving forward, the two companies will continue to pursue various initiatives to contribute to further innovations in the healthcare sector. Fujitsu will work with insurance companies, medical institutions, pharmaceutical companies and medical device manufacturers to build a digital health ecosystem in which a wide range of data can be effectively linked and used with the latest digital technology in order to realize personalized healthcare throughout the entire life cycle. This initiative represents part of Fujitsu's ongoing efforts to contribute to the creation of a healthy society as part of its vision for "Healthy Living" under its global business brand Fujitsu Uvance to create a sustainable world.Salesforce aims to realize "Connected Healthcare," which provides innovative and optimal healthcare to patients on an ongoing basis by connecting various healthcare stakeholders with patients through its ?Health Cloud."Yoshinami Takahashi, (Corporate Executive Officer, EVP) Fujitsu Limited, comments:"We are excited to start collaboration with Salesforce Japan in the healthcare field. By leveraging our respective strengths, I am confident that we can develop and provide innovative solutions to a wide range of challenges and tasks in this field. The vision of "Healthy Living," one of the key focus areas under our global business brand Fujitsu Uvance is to create a world that enriches the life experience of everyone and continues to expand their potential. In order to realize this vision, it is essential to solve cross-cutting issues among consumers, insurance companies, medical institutions, pharmaceutical companies and other players. Fujitsu will create a digital health ecosystem to effectively link the data held by these players at the initiative of individuals to create new value and ultimately solve various issues. Through this collaboration, we ultimately aim to deliver new solutions under our portfolio of "Healthy Living" offerings, contributing not only to the transformation of healthcare in Japan, but throughout the whole world."Hidenori Tamura (Managing Executive Officer), Salesforce Japan Co., Ltd., Enterprise Finance & Region DX Sales Headquarters comments:"There is a gap between the healthcare services demanded by consumers and the services actually provided. A Salesforce research shows that more than 80% of consumers are interested in personalized health services, while only about 30% of companies actually provide them. To meet the needs of consumers, it is essential for various players in the industry to connect and collaborate with patients to create solutions. We have positioned our ?Health Cloud? as a solution where patients and healthcare players can connect and where healthcare players can create new solutions and values together. Through our solutions centering on the ?Health Cloud,? we will promote patient-centered DX in Japan. As a major step towards achieving this goal, we will work with Fujitsu to provide innovative healthcare services and experiences that are optimal for each patient."Amit Khanna SVP & GM, Health Care and LifeSciences, Salesforce, Inc. comments:"Care is not just about one moment in time - care is longitudinal. In order to transition to more preventative, holistic care, the healthcare industry needs to embrace more connected, collaborative solutions and start integrating data from across different healthcare platforms to get a full picture of the patient. With this integrated end-to-end view, the healthcare industry can start working towards delivering personalized, tailored care to every patient."(1) Patient journey :The process of a patient's behavior and feelings during the period of treatment, such as seeking medical attention or taking medication, after the patient has developed a disease.About FujitsuFujitsu?s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$32 billion) for the fiscal year ended March 31, 2022 and remains the top digital services company in Japan by market share. Find out more: www.fujitsu.com.About SalesforceSalesforce is a global leader in customer relationship management (CRM), helping companies of all sizes and verticals digitally transform and reach their customers at 360 degrees. Learn more about Salesforce (NYSE: CRM) at www.salesforce.com. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)