Tag: Mitsubishi

Manila, Philippines – Mitsubishi Corporation (MC) has announced that alongside Ayala Corporation (AC), and AC Ventures Holding Corp (ACV), they have reached an agreement on MC’s investment in ACV subject to the execution of definitive transaction documents and the satisfaction of customary closing conditions. 

AC is a major conglomerate in the Philippines and ACV currently holds an about 13% stake in Mynt, the parent company of GCash. Under the terms of the agreement, MC shall acquire a 50% stake in ACV and pursue future investment opportunities.

In addition, MC and AC are going to sign a memorandum of understanding (MoU) on a comprehensive collaboration in the Philippines. The MoU covers additional business developments aimed at stimulating the country’s economic growth.

MC aims to create a prosperous society and a “Smart-Life” ecosystem in the form of improved lifestyle for consumers by launching multiple attractive businesses that address social issues and consumer needs in each region and country, and organically connecting them. These ecosystem addresses both challenges faced by social issues and consumer needs, and sustainable growth of our business portfolio.

Data notes that around 80% of the country’s citizens have tried using the GCash mobile wallet, which is Mynt’s core business. With a vision to accelerate financial inclusion in the Philippines, the product has by far the largest mobile-wallet customer base in the Philippines and has grown into an indispensable service infrastructure, relied on by millions for daily payments, transfers and other financial transactions. 

In addition to its digital payments and transfers, Mynt, through its other subsidiaries, also provides access to loan services using non-traditional ways to assign customer credit scores to enable access to fair lending. It has also expanded its financial services offerings to provide users access to savings, insurance, and investment products. 

Furthermore, it has built the largest network of online and offline merchants including social sellers with over 6 million partners while hosting over 1,000 merchant partners in its app, via GLife.

With this recent partnership, both MC and AC are committed to boosting Mynt’s corporate value and leveraging other joint initiatives to create new businesses in the Philippines and contribute to its economic development. Those efforts will include continuous business development and cross-sales in C2B area like retail and healthcare, and multifaceted collaborations in mobility, renewable energy, carbon management and elsewhere.

Lastly, with the Mitsubishi UFJ Financial Group (MUFG) having also announced its investment in Mynt this past August, MC and AC shall work with MUFG as fellow shareholders to aid the company’s future growth and development.

Australia – Paper Moose has been appointed by Mitsubishi Electric, a manufacturer of air conditioning and refrigeration, to manage its creative account.

Since its founding in Australia in 1974, this action represents a change in the company’s creative direction and aims to promote long-term growth in its global residential, commercial, and industrial technology offerings.

Speaking of the appointment, Jessica Millard, Marketing and Communications manager at Mitsubishi Electric, said, “Paper Moose’s out-of-the-box thinking really impressed us, in terms of both their creative and strategic ambitions for our brand. They will play a key role in strengthening the Mitsubishi Electric brand and driving sales in the years to come.”

Meanwhile, Brad Bennett, head of client success, at Paper Moose, said, “Mitsubishi Electric fascinated us from the get-go. They create technologies that touch so many aspects of Australian life and their positive contribution to society is rad.”

Kuala Lumpur, Malaysia – Used car selling platform myTukar and the Malaysian arm of automotive brand Mitsubishi Motors have announced a new partnership, aiming to create new digital customer experiences to the public.

As part of the initial timeline in the partnership, both companies have collaborated in creating Mitsubishi Motor Malaysia’s (MMM) virtual showroom, which offers customers a 360-degree view of the car’s exterior and interior, as well as allows customers to zoom in and out and navigate in every direction. Each of the Mitsubishi vehicles on display has a clickable interactive button to instantly show more information about the car and its key features. Besides a 360-degree view, the online showroom also comes with a gallery which showcases more images of the vehicles at various angles. 

Encapsulated within the partnership as well are other digital CX strategies including ‘Test Drive 2U’, which allows customers to test drive a Mitsubishi car from the comfort of their homes through an online booking in the online showroom platform; a booking assist that allows customers to continue their purchase journey online by submitting a booking request form on the online showroom’s website ranging from loan to insurance application; and trade-in assist which allows customers to have the option to request for the car inspection, handover, transfer of ownership and the collection of the sold car to be done at any of the customer’s preferred location to the customer’s convenience. 

“In the past year, we’ve seen an unpredictable level of change, because of the new normal and the need to maintain social distancing. The launch of Mitsubishi online showroom is a strong example of MMM’s commitment to deliver a more human-centric experience by encompassing a holistic approach across three key organizational pillars: people, process and technology,” said Tomoyuki Shinnishi, chief executive officer of Mitsubishi. 

He added, “We have always believed in creating a walk-through experience and this online showroom is an extension from getting to know the product, test-drive at customer’s convenience, and communication with the dealer to finalize the purchase journey. We want to offer our customers a safe purchase of their Mitsubishi model without the need of leaving their homes.”

For Fong Hon Sum, CEO of myTukar, the collaboration with Mitsubishi Motors means leveraging myTukar’s proprietary technology-enabled platform which provides Mitsubishi Motors with a simplified and transparent valuation to ultimately enhance retail customer experience. 

“I strongly believe that this partnership will reinforce our mutual vision of giving customers an innovative and convenient process of purchasing and selling their used cars,” Sum stated.

Mitsubishi Motors has also announced the launch of MITSUBISHI CONNECT mobile application as a continuation of after-sales service through a digital platform. The mobile app offers a range of vehicle-related digital services, allowing Mitsubishi owners to schedule a service appointment with their preferred MMM service centres, keep track of vehicle maintenance history and get reminders for their next car service in an easy and hassle-free manner.