Mitsubishi Estate and mui Lab have formed a capital and business alliance.
Mitsubishi Estate Co., Ltd. and mui Lab, Inc. have formed a capital and business alliance.
The capital and business alliance will be used as an opportunity to develop new services that aim to become the industry standard in the Japan's smart home market. By leveraging the strengths of each company's smart home related services−Mitsubishi Estate's "HOMETACT" and mui Lab's "mui Smart Living"−to realize a decarbonized society. Through this strong partnership, we will utilize cutting-edge technology to jointly develop solutions that promote the smart home, real estate, and energy services, thereby solving social issues and creating a more sustainable society.
Main Points of Capital and Business Alliance
- Mitsubishi Estate and Kyoto-based technology startup mui Lab form capital and business alliance.
- Mitsubishi Estate leverages its expertise as a general developer with "HOMETACT" smart home services.
- mui Lab's offers its Calm Technology-inspired "mui Smart Living," smart home services which include energy management capabilities.
- The two companies have been collaborating since early 2022, working together on the joint development of home energy management system (HEMS) technology.
- Through this capital and business alliance, the two companies will further strengthen their cooperative framework. The two companies have agreed to accelerate the development of new services for the domestic housing, real estate, and energy industries by integrating their smart home services and technologies−all while exploring the latest global technologies and trends.
The Future Vision of Mitsubishi Estate and mui Lab
The vision of the two companies is "to add wellbeing in people's lives through smarter homes." The aim is to not only realize home automation but also wellbeing in people's lives, and move towards a decarbonized society through the adoption of energy management technology.
In the collaboration between Mitsubishi Estate−which has long been promoting "the way of living," −and mui Lab, which proposes "technology that accompanies people's lives," the two companies will create a service that will become the de facto standard in Japan's smart home market, reimagining how safe, comfortable, healthy, and happy connected spaces can promote long-term wellbeing.
Outline of Capital and Business Alliance
Date of capital participation: August 31, 2023
Contents: Business alliance and third-party allotment of new shares
(1) Joint development of new services integrating the services of both companies
(2) Further development of new functions of HOMETACT by accepting new capital
Comment from Hirofumi Kato, Managing Executive Officer, Head of Residential Business Group, Mitsubishi Estate
mui Lab is a rare player in the smart home domain that has been quick to incorporate Matter and other cutting-edge technologies from around the world, while also steadily providing solutions in the energy management domain.
In addition, we believe that our smart home service "HOMETACT" can not only make users' lives more convenient and comfortable, but can also be applied to efforts toward decarbonization, such as energy conservation and power saving.
Social demands for decarbonization are increasing year by year, and we see great potential in the evolution of smart home technology and energy management technology when considering the future "way of living". Through this capital and business alliance with mui Lab, we will combine the strengths of both companies to more strongly promote efforts toward a decarbonized society in the housing field and strive to solve social issues.
Comment from Kazunori Oki, CEO of mui Lab
We believe that in order to realize our vision, we need more partners, so we met and talked with the people of the Mitsubishi Estate HOMETACT team, and as we worked together on the project, we were able to see the potential of the smart home in Japan anew. We are very happy to have established a joint venture relationship in the form of a capital and business alliance. We will work as a team to challenge the difficult area of balancing the best user experience with solutions to social issues, by combining the strengths of mui Lab and Mitsubishi Estate to establish a de facto standard for smart homes in Japan.