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Other Disclosures3970Innovation Inc.Information and Communications, Services and Others

CVC fund “INNOVATION V Capital” invests in KGモーターズ株式会社, a startup developing next-generation ultra-compact mobility

Through the CVC fund jointly established by our company and Innovation Engine, we invested in KGモーターズ, which develops and manufactures the ultra-compact mobility vehicle “mibot.” Through this investment, we aim to combine our strengths in the B2B sector with KGモーターズ’ technology and production capabilities to expand into corporate use and, in the future, the autonomous driving MaaS sector.

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Announced details

mibot (ミボット), an ultra-compact mobility vehicleINNOVATION V Capital
Applicable field (uses covered by this announcement)
Second cars in regional citiesCorporate sales and巡回 operationsDeliveryAutonomous driving MaaS
Launch dateDemonstration projects with major companies and local governments will begin sequentially (no specific start date stated)
What the company reported numerically
Quantitative Effects

More than 80% reduction in running costs compared with kei cars, based on an estimate by KGモーターズ株式会社

Usage history

A proprietary YouTube ecosystem with more than 220,000 registered users. The response has exceeded expectations, but the number of mibot units introduced and sold is Not disclosed.

Relationship between the counterparty and the company
Innovation Inc.3970
Relationship with the Company

Our company invested in KGモーターズ株式会社 through the CVC fund jointly established with Innovation Engine株式会社. The document does not state that our company and KGモーターズ have any existing capital, personnel or business relationship.

CounterpartyKGモーターズ株式会社

Head office: 2-2-9 Nishiosawa, Higashihiroshima, Hiroshima Prefecture; Representative Director and CEO: Kusunoki Issei (楠一成); next-generation mobility technology company; established: July 2022

Location (as indicated in this announcement)

Higashihiroshima, Hiroshima Prefecture (Mibot Core Factory)

Total floor area: 3,300 square metres

In this announcement the company addresses none of Contract Value / Offering price / Impact on Business Performance.

Source (materials cited by the company)

Ministry of Land, Infrastructure, Transport and Tourism, “Initiatives Concerning Ultra-Compact Mobility at the Ministry of Land, Infrastructure, Transport and Tourism”; estimate by KGモーターズ株式会社

Announced details
ItemDetails
Names of Products / Services Coveredmibot (ミボット), an ultra-compact mobility vehicle, INNOVATION V Capital
CounterpartyKGモーターズ株式会社
Counterparty overviewHead office: 2-2-9 Nishiosawa, Higashihiroshima, Hiroshima Prefecture; Representative Director and CEO: Kusunoki Issei (楠一成); next-generation mobility technology company; established: July 2022
Relationship with the CompanyOur company invested in KGモーターズ株式会社 through the CVC fund jointly established with Innovation Engine株式会社. The document does not state that our company and KGモーターズ have any existing capital, personnel or business relationship.
Launch dateDemonstration projects with major companies and local governments will begin sequentially (no specific start date stated)
Applicable areaSecond cars in regional cities, Corporate sales and巡回 operations, Delivery, Autonomous driving MaaS
LocationHigashihiroshima, Hiroshima Prefecture (Mibot Core Factory)
Location scaleTotal floor area: 3,300 square metres
Quantitative EffectsMore than 80% reduction in running costs compared with kei cars, based on an estimate by KGモーターズ株式会社
Usage historyA proprietary YouTube ecosystem with more than 220,000 registered users. The response has exceeded expectations, but the number of mibot units introduced and sold is Not disclosed.
SourceMinistry of Land, Infrastructure, Transport and Tourism, “Initiatives Concerning Ultra-Compact Mobility at the Ministry of Land, Infrastructure, Transport and Tourism”; estimate by KGモーターズ株式会社
Items this document does not state (7)
Contract ValueOffering priceContract DateAward/certification nameAwarding / certifying bodyRegistration number and expiry dateImpact on Business Performance

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

To accelerate the creation of innovation by combining KGモーターズ’ original mobility technology and production scalability with our strengths in the B2B sector, serving demand for second cars in regional areas, corporate sales,巡回 and delivery operations, and the future autonomous driving MaaS sector.

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CVC fund “INNOVATION V Capital” invests in KGモーターズ株式会社, a startup developing next-generation ultra-compact mobility | Innovation Inc. (3970) timely disclosure | Komori