Cocoo Strengthens Collaboration with Awa Bank Capital for Digital Transformation in Tokushima

Cocoo Corporation, based in Chiyoda, Tokyo, has announced its strengthened collaboration with Awa Bank Capital, a subsidiary of Awa Bank located in Tokushima, to promote digital transformation (DX), develop DX talent, and create jobs in the Tokushima and Shikoku areas. This initiative is part of Cocoo's commitment to support society's DX advancement through its 'Human Resources × Digital' business strategy.

Background of the Collaboration with Awa Bank Group

Cocoo is actively working towards becoming the leading company in producing DX talent as outlined in its long-term management plan, 'VISION 2030.' The company has identified 'regional revitalization' as a top strategic priority and has opened its first regional office in Fukuoka in April 2023. Following this, additional branches in Osaka, Toyama, and Hamamatsu are set to launch by April 2025, expanding its footprint in regional Japan.

Since 2022, Cocoo has successfully raised funds through third-party allotment financing, partnering with several regional bank-affiliated venture capital firms, including FFG Venture Business Partners in Fukuoka and Yokohama Capital in Kanagawa. Through this network, Cocoo has engaged in multiple match-up and networking events with local governments and businesses, addressing challenges like operational efficiency and talent shortages in DX.

The latest round of funding from Awa Bank Capital will help Cocoo develop DX talent by utilizing its educational programs and foster business co-creation aimed at promoting regional DX. Cocoo aims to accelerate DX initiatives in the Tokushima and Shikoku regions, contributing to sustainable local development.

Cocoo’s Commitment to Regional Revitalization

Cocoo's corporate purpose is to create a society where diversity and inclusion are standard, allowing individuals of all backgrounds—including women, seniors, foreigners, people with disabilities, and LGBTQ+ individuals—to acquire digital skills and choose their workplaces freely throughout various life stages. One of the initial steps towards achieving this goal is promoting women's participation in the workforce.

Offering various services such as 'Excel Women' and 'Data Women,' Cocoo supports the development of inexperienced individuals into DX professionals, thereby helping companies tackle their challenges and enhance their digital transformation.

The company has ambitious goals in its long-term management plan, with a target of establishing 30 regional offices by 2030. The opening of its Hamamatsu office in April 2025 marks another milestone in its commitment to this initiative.

By employing local individuals with no prior digital experience as part of Cocoo, the company aims to create a supportive ecosystem for local businesses seeking to implement DX initiatives. This strategy is expected to generate job opportunities, reduce salary disparities across regions, and facilitate the digital transformation of local governments and companies—ultimately contributing to a revitalized community.

Future Endeavors in DX Promotion and Local Partnerships

Cocoo continues to build partnerships with local governments, banks, and businesses to further promote DX and workforce development in various regions. The collaboration with Awa Bank Capital will support these initiatives and help to mitigate labor shortages caused by declining populations in rural areas.

Quotes from Executives

Makoto Sobue, Awa Bank Capital Sales Manager: “We focus on delivering equity supply to startup companies that emphasize innovation, helping to elevate their enterprise value and contribute to sustainable community development. Recognizing the challenges posed by declining local labor populations, we value the business model that promotes digital transformation and women's active participation through DX talent training.”

Yusuke Irie, CEO of Cocoo: “We are honored to work together with Awa Bank Capital to enhance the Tokushima and Shikoku regions. This partnership represents a significant step forward for us to accelerate our business in these areas, leveraging our skills in nurturing digital talent to support local companies in their digital journeys. We also plan to establish new offices in Tokushima and Shikoku, thereby contributing to job creation aligned with our VISION 2030 goals and addressing national challenges of labor shortages.”

About Cocoo Corporation

Founded in February 2019, Cocoo Corporation addresses labor shortages posed by declining work populations through its 'Human Resources × Digital' approach. Our services are tailored to foster a society where diversity and inclusion are standard. We are committed to promoting women's empowerment and aim to become the leading company in developing DX talent. Through VISION 2030, we aim to facilitate labor productivity enhancements and create a work environment where everyone can thrive.