#Japan #Digital Transformation #Chiyoda #Misumi Group #DX Stocks

Misumi Group Transforms with Digital Innovations

On April 11, 2023, Misumi Group, headquartered in Chiyoda, Tokyo, proudly announced its selection for the Digital Transformation Stock Designation 2025. This honor comes from a joint initiative by the Japanese Ministry of Economy, Trade and Industry, the Tokyo Stock Exchange, and the Independent Administrative Institution Information Processing Promotion Agency.

Understanding Digital Transformation Stocks

The Digital Transformation Stock initiative recognizes companies listed on the Tokyo Stock Exchange that are significantly innovating their business models and practices using digital technology. This transformation facilitates new growth avenues and bolsters competitive strength.

Companies selected under this initiative are distinguished for their ability to implement mechanisms that promote corporate value through Digital Transformation (DX). Misumi Group is among 31 chosen companies that are making substantial strides in enhancing their corporate value by leveraging digital capabilities.

Misumi’s Approach to Digital Transformation

Since the 1970s, Misumi has embraced changing technologies to reform the procurement process for machine parts. The company emphasizes the need to promptly respond to market and customer changes. Currently, its growth strategy, dubbed Digital Model Shift, combines digital technologies like IT and AI with over 60 years of expertise in manufacturing.

One noteworthy advancement is meviy, which drastically reduces the lead time for custom parts procurement by 90%. Over five years, this innovative platform has attracted 170,000 users both domestically and internationally, securing the No. 1 market share in Japan for four consecutive years. Moreover, the newly enhanced core system has integrated inventory information from over 500 suppliers, expanding the quantity capacity eightfold through D-JIT, which boasts over 70,000 users. Misumi’s DX strategy focuses on enhancing its adaptability to manufacturing changes globally, a distinctive hallmark of its operations.

Recognition of Misumi’s Efforts

The selection of Misumi for the DX Stocks underscores the effectiveness of its strategies. The company's commitment to leveraging digital technology to achieve reliable short delivery times and maximize efficiency for customers resonates with evaluators. Misumi’s approach to balancing short delivery times and a diverse product portfolio under the Digital Model Shift reflects its innovative business model. Furthermore, its strategy for developing digital talent is aligned with the overarching DX direction, identifying both common and unique requirements. This ensures that the applications of digital technologies yield tangible benefits consistent with the business model.

For many years before the term DX gained popularity, Misumi had been pioneering business transformation efforts through IT and digital technologies. This recognition is a testament to their sustained commitment to enhancing customer time value using digital methods.

About Misumi Group

Misumi Group stands out in the automation industry by providing essential machine parts, tools, and consumables to a global network of 318,000 companies as of March 2024. They uniquely combine manufacturing functionality with the role of a trading company, establishing a solid business foundation that allows them to deliver global assured short delivery times, thereby enhancing convenience for customers.

Contact Information for Media Inquiries

For further information, please reach out to the Corporate Relations Department of Misumi Group:

• - Email: pr@misumi.co.jp
• - Phone: 03-6777-7502

In conclusion, Misumi Group’s pioneering efforts in digital transformation place them at the forefront of industry innovations, setting a promising precedent for future developments in the field.