ITOCHU ENEX CO.,LTD.

ITOCHU ENEX and OpenStreet Form Capital and Business Alliance

Apr. 27, 2023
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ITOCHU ENEX and OpenStreet Form Capital and Business Alliance

ITOCHU ENEX CO., LTD. (Headquartered in Chiyoda-ku, Tokyo; Tomofumi Yoshida, Representative Director, President and CEO; hereinafter "ITOCHU ENEX") and OpenStreet Co., Ltd. (Headquartered in Minato-ku, Tokyo; Tomoaki Kudo, Representative Director, President and CEO; hereinafter "OpenStreet") announce that they have formed a capital and business alliance through a third-party allocation of shares to ITOCHU ENEX.

OpenStreet provides platforms for micromobility sharing services such as Hello Cycling, an electric-assisted bicycle sharing service, with a view toward resolving urban traffic issues and accelerating regional revitalization.

Featuring a user-friendly app, an Internet-of-Things (IoT)1 lock that may be attached to any bicycle, and other features, the platform allows operators considering the launch of a shared mobility service to start their business quickly at low cost. Thus, OpenStreet operates services across the country. It also operates the Hello Mobility shared mobility service for scooters and ultra-small electric vehicles and the BLUU Smart Parking service for shared parking spaces. It offers many different means of transport for the establishment of Mobility-as-a-Service (MaaS)2 networks.
 
Through this capital and business alliance, ITOCHU ENEX and OpenStreet will explore potential collaborations between OpenStreet's environmentally-excellent micromobility sharing services and ITOCH ENEX's existing businesses.
 
1. IoT are technologies that connect things to the Internet.
2. MaaS are services that combine multiple mobility services in response to users' transport needs and provide one-stop platforms for searching, booking and payment.

■ About ITOCHU ENEX
Since its establishment in 1961, ITOCHU ENEX has been working to achieve its mission of stably supplying energy as the Best Partner for Life and Society and delivering LP gas, other oil products and other forms of energy to customers across the country. It will continue to work towards the achievement of economic efficiency and a carbon-free society based on its stably supplying energy. Then, ITOCHU ENEX will engage in a range of efforts to solve climate issues and other social problems through energy.

■ About OpenStreet
OpenStreet operates Hello Cycling, one of Japan's largest bicycle sharing platforms supported by the Bicycle Practical Use Promotion Act. It is based on a unique horizontal specialization-type regional partnership model. In addition, it also runs the Hello Mobility shared mobility service and the BLUU Smart Parking service for shared parking spaces. OpenStreet aims to contribute MaaS while providing various means of last mile transportation services.

[Contact Information for this release]
ITOCHU ENEX CO., LTD.
Industrial Business Division, Planning & Administration Department,
Green Transformation Solution Section
Ryoto Kirihara email:ib_GX@itcenex.com

OpenStreet Co., Ltd.
Public Relations email:pr@openstreet.co.jp

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