b'B U S I N E S S D E V E L O P M E N T SC Recognized as DX STOCKon Tokyo Stock Exchange SCOA and SC always work with an eye toward the future, but in recent years, Digital Trans-formation (DX) has stood front and center as a leading concept in innovating the way we work and the way we see business models evolving. As a testament to the companys pursuit of this strategy, Sumitomo Corporation was recently listed as one of the Digital Transformation Stocks of 2020 by Japans Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE). Part of the prestige of this recognition is that only 35 publicly traded Japanese companies were chosen for this inaugural list.The distinction of DX Stock reflects that the rec-ognized companies fundamentally transformed their business models and other aspects of their business based on the premise that digital technology will lead to new growth and enhanced competitiveness. METI and TSE jointly selected and announced the DXAbove, Jun Okawara, SVP and General Manager of SCOAs Business Stocks with an aim to accelerate the digital transfor- Development Groupmation of Japanese companies. Approximately 3,800 listed companies in Japan were examined for theirimpact on our corporate PR, our stock market posi-levels of business transformation, strategic initiatives,tion, and our work with business partners.and management leadership.The DX Stock Award aims to recognize companies I see SCOA as a key driver in moving the entirethat have dramatically reformed their business models Sumitomo Corporation Group forward in this area,through digital technology to ultimately achieve new and SCOAs Business Development Group is tirelesslygrowth and enhance competitiveness. seeking new strategies and resources to aid in this DXThe selection clearly reflects the various DX activ-implementation here in the Americas, and beyond,ities and reformations that SC has undergone for the said Jun Okawara, SVP and General Manager ofpast two and a half years, Nambu said. In the current SCOAs Business Development Group. Medium-Term Management Plan, SC defined DX Toshikazu Nambu, SCs Chief Digital Officer, ex- as an approach to creating new value through digital plained that companywide dedication to DX, such astechnologies based on issues and ideas at the frontlines. establishing SCs DX Center and globally expandingWe established our DX Center as a new initiative to corporate venture capital (CVC), should be credited.promote DX together with SCSK. Currently, we have approximately 150 members globally working on DX I myself met with more than 2,800 SC Group mem- through frequent communication among all business bers directly at 20 locations and took all the measuresunits, corporate groups, and regional organizations. to expedite DX and create the new issue of digital driven culture throughout the entire group, Nam- We have also been expanding opportunities for bu said. Hence, the fact that third-party institutions,co-creation with startups by global expansion of CVC such as the Japanese Ministry of Economy, Trade andand the launch of HAX Tokyo, an accelerator pro-Industry and the Tokyo Stock Exchange, have publiclygram, he continued, as well as ramping up insourcing recognized and commended SCs efforts is extremelyof specialized data marketing and AI technologies, such meaningful and encouraging for all members whoas SC Digital Media and Insight Edge. This has led to have been working hard to move DX forward. Addi- more than 300 DX projects, and through the process tionally, in Japan, the selection makes a hugely positiveof trial and error, we are creating various value-added projects and businesses.14 visions Fall 2020'