Sun* raised nearly 1 billion yen from Norinchukin Bank
Sun Asterisk Inc. (Headquarter: Chiyoda-ku, Tokyo; CEO: Taihei Kobayashi; hereinafter referred to as Sun*) has issued new shares through a third-party allotment - Norinchukin Bank (Headquarters: Chiyoda-ku, Tokyo; Legal representative: Kazuto Oku, hereinafter referred to as: Norinchukin) - one of the largest investors in Japan, and has successfully raised 1 billion Yen from this bank. This is the company’s first attempt to mobilize capital from an outside financial institution to achieve its goal of raising 2 billion Yen from partner companies or financial institutions before the end of the mobilization process in 2020.
From left to right: Director Makoto Hirai, Director Takuya Umeda, Chairman and CEO Taihei Kobayashi, Director Yusuke Hattori
Established in 2012 with the core business of creating software applications, Sun* has supported over 300 services and products so far. With more than 1,000 IT personnel worldwide, Sun* has expanded its business as a Digital Creative Studio with the strength in deploying technology. Currently, the company is expanding its model of support, not only backing startups through Startup Studio and Accelerate activities but also helping large enterprises with Digital Transformation (DX) and R&D.
Although the promotion of Digital Transformation is being pushed for all industries, according to a study of IT demand-supply from Ministry of Economy and Trade of Japan (*), Japan is predicted to face the most prolonged period of IT personnel shortage.
Moreover, the IT human resources to drive the digitalization in society are slowly depleting on a global scale. With that context, since 2013, Sun* has been making efforts to build up its IT human resources through education and training activities in collaboration with universities.
The funding raised will help consolidate both the medium-term and long-term growth of Creative Studio, expanding the IT human resources development programs, which are currently being provided for around 1500 students from three universities in Vietnam, including the program implementation in other countries. Additionally, in order to broadly and continuously offer DX solutions, Sun* will also invest in the business of Acceleration by establishing and investing in more startups in many countries around the world (Startup Studio).
(*)Refer to the research on demand-supply of IT personnel in Japan
Statement from Sun* representative:
Since our establishment, Sun* has never mobilized any external capital sources and only operated and grew using its own capital. However, in order to realise our vision, we realised that our business needed to grow at a faster pace, hence the decision to raise capital was made.
By letting Norinchukin Bank be the main investor and contribute to our business platform, we will improve the quality of our services and create a centralized environment where people can focus on creating “Awesome things”. Recently, more and more foreign investors and venture capital have been investing in unlisted Japanese companies. I hope that this investment from the bank with an asset under management of over 60 trillion Yen can fasten the speed of investment by domestic investors for Startups, and simultaneously promote the diversification of capital mobilization activities.
I am delighted to have received the support from Norinchukin Bank and am eager to take on challenges together. I hope to show my gratitude through good results.
We will explore, nurture talents and ideas to build a solid foundation for Sun's vision: “A society where everyone in the world has the opportunity to passionately create values”!
Statement from Norinchukin Bank:
Norinchukin Bank has developed a medium-term management plan for the fiscal year of 2019 - 2023 and aims to “face the wind of change to create new value” in an era of intermittent changes. In the investment business, we study the development of investment methods and have started taking on challenges in different fields, including direct investments in domestic companies.
We have decided to invest in Sun* as the company has not only been creating new values for many types of businesses but has also contributed greatly to the development of various Japanese industries including agriculture, forestry, fisheries, etc. Since this is the first direct investment project representing our new attempt, Norinchukin Bank hopes that we will not only provide financial support but can also work towards growing the two businesses together in the future. We look forward to our partnership with Sun*.
Sun* is a Digital Creative Studio with an advantage in technology and a business scale of more than 1500 employees in six provinces in four countries. Founded in 2012, the company aims to create a world where people can be passionate about creating valuable things. This is strongly expressed in our vision: “Create a world where everyone has the freedom to make awesome things that matter.” Our core business activities include: training professional IT human resources, Startup Studio from scratch, promoting Digital Transformation (DX) using the most advanced technologies.
Address: 9F Grand First Kanda Ashiyamach, 15 Kanda Ashiyacho, Chiyoda-ku, Tokyo
Representative: CEO Kobayashi Taihei
Established year: 2012
Business segments: providing solutions, software, human resources training
Public Relations Team - Sun Asterisk Inc.
Phone: 03-6419-7633/Email: firstname.lastname@example.org