This move would mark a change for Japan’s third-largest telecom, while it looks out of place for growth and potentially bring it into competition with SoftBank Group Corp’s parent company companies and its $ 100 billion Vision, which has invested in leading travel firms around the world.
Miyakawa said: “Our first step is likely to be South East Asia, such as applications such as smart transportation services, or airport airport systems,” adding that Monet could begin introducing such services by 2020.
Many are the first alliance between Japanese telecom no. 3 and its largest manufacturer. SoftBank Corp. is the largest shareholder in the venture, which was announced last October, with a share of 40.2%, while Toyota owns 39.8%.
It plans to set up bus and car services in Japan next year and a service platform for electric vehicles at the beginning of 2023, based on Toyota’s multifunctional “e-pallet” car.
Honda Motor Co. and Toyota’s Hino Motors subsidiary took over 10% each in the company in March and Miyakawa said it would soon receive more investment from the domestic automotive industry.
He said: “We are planning to announce an extension to our stakeholders sometime this month.”
Currently, SoftBank Corp’s chief technology officer, Miyakawa began looking for projects outside its main telecom business, which faces a mature and narrow-minded market, turning it from one location to Sprint’s softbank.
The son of a Buddhist priest, known for his sincere style and great ideas as the ancient HAPSMobile flight company, Miyakawa decided on the idea of developing a platform for autonomous cars after flirting with the idea of creating cars.
While Monet’s global ambitions will first be limited to basic transport services, any expansion can put it into competition with SoftBank portfolio companies, which include Uber Technologies, Didi Chuxing, Grab and Ola, and Uber’s Self-Determination Units General Motors.
Miyakawa, a key lieutenant of SoftBank Group’s founder and CEO of Masayoshi Son, said he has no concerns about competing with those companies, adding that the recognition of SoftBank’s accelerated sign-up firms helps Monet develop its services.
Miyakawa said, “Monet is part of the Corp SoftBank camp.
“As a company, we will go against rivals investing the Vision Fund, if it means we can offer the best services we can.”
SoftBank and Toyota investments in those travel services can benefit from Moneta’s expansion, an analyst said, as companies could meet for partnerships to help their entry into new markets.
Takeshi Miyao, director of consultancy Carnorama, said, “If Monet would enter the Chinese market, he could approach Didi, America could join Uber and cooperate with Grabin in Southeast Asia.”/Investing.com