Tokyo, July 19th, 2024 – Sumitomo Corporation and Dexterity Inc. today announced the creation of Dexterity-SC Japan, a new joint venture focused on accelerating the adoption of AI-powered intelligent robotic solutions for warehouse, supply chain, logistics, and other labor intensive industrial operations.
Building on a successful distribution agreement between the two companies in 2022, the newly formed Dexterity-SC Japan will sell, market, localize, and provide financing options for AI-powered robotic solutions. These solutions will leverage cutting-edge AI technology and intelligent robotics to solve the most complicated, dynamic material handling challenges in industrial settings.
“The timing has never been more urgent for companies in Japan to adopt technological solutions to address the combined impacts of labor shortages and rising demand for e-commerce,” said Norihiko Nonaka, Automotive Group CEO at Sumitomo Corporation. “Dexterity-SC Japan will help close that gap by enabling Japanese companies to leverage proven technology already used by leading parcel, 3PL, and manufacturing companies in the U.S.”
Recent labor statistics in Japan estimate that there will be up to a 35% transportation capacity shortage by 2030,[1] impacting industries across the Japanese economy. Dexterity-SC Japan will offer truck loading, truck unloading, palletizing, and depalletizing products that will help better leverage existing manpower in the logistics industry.
“In partnership with a trusted industry leader like Sumitomo Corporation, we are confident that Japanese companies will be able to quickly realize the benefits of market proven AI-powered robotic solutions in their logistics operations,” said Dexterity CEO, Samir Menon.
Sumitomo Corporation and Dexterity previously announced a partnership to deliver 1,500 Dexterity-powered robots by 2026, including 500 truck loading robots for Japanese warehouses. Sumitomo Corporation also invested in Dexterity in 2020 through Presidio Ventures Inc., Sumitomo Corporation’s U.S.-based corporate venture capital arm.
About Sumitomo Corporation
Sumitomo Corporation (TYO: 8053) is an integrated trading company with a strong global network comprising 128 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group's business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of "Enriching lives and the world," based on Sumitomo’s business philosophy passed down for over 400 years.
About Dexterity, Inc.
Dexterity, Inc. is a Redwood City, California-based leader in AI-Robotics Technologies specializing in creating intelligent robots with human-like dexterity. By automating repetitive tasks, Dexterity's full-stack AI-Robotics solutions unlock the maximum value of the workforce, allowing employees to focus on higher-level, cognitive work. With applications in logistics, warehousing, and other industrial settings, Dexterity's intelligent robotic solutions power complex manipulations in unpredictable environments. To learn more, visit
www.dexterity.ai.
Contact
Michael Perry
Vice President of Marketing, Business Development