NYK sets up logistics technology unit in Singapore
March 15, 2016
Japanese shipping company Nippon Yusen Kaisha (NYK) and two of its wholly owned subsidiaries – the Monohakobi Technology Institute and NYK Business Systems – have teamed with Weathernews and Kozo Keikaku Engineering to establish a new company in Singapore to develop and market next-generation technology for shipping and logistics.
Called Symphony Creative Solutions (SCS), it is being created to expand on the scope of the Symphony Project, a jointly developed effort formed in 2014 to promote services centring on the automotive logistics business in Asia. Considering the rapid evolution of technology, specifically with the IoT, and aiming to design further innovations that meet advancing on-site needs in logistics, the five companies have agreed to establish SCS to further the development of the Symphony Project.
The new company will fuse the NYK Group’s knowledge, on-site capabilities and global network accumulated in the shipping and logistics businesses with Weathernews’ infrastructure network and weather forecast technology, along with Kozo Keikaku Engineering’s simulations created through operations research techniques and data-analysis technology. In the area of development, a lean start-up methodology, based on an entrepreneurial business work-style often undertaken in Silicon Valley, will be employed. The SCS head office will be located at Block 71, Singapore, known as a hub for IT venture companies in Asia.
This joint development project was selected by NYK’s creative development fund during its first call for applications. The NYK Group continually promotes creativity, as upheld in its medium-term management plan and aims to create new value in the supply chain by providing next-generation services that support customers’ needs in logistics.
The fund was set up in 2014 and aims to discover and foster creativity among group companies as sources of differentiation and strives to support commercialisation of creative ideas.