#Japan #Digital Transformation #Tokyo #Nichyoku #Itowa

Nichyoku and Itowa Forge Strategic Alliance for Funeral Industry

In a significant move aimed at transforming the funeral industry, Nichyoku Co., Ltd. has announced a strategic capital and business collaboration with Itowa Co., Ltd. The partnership is expected to enhance the quality of services and drive digital transformation (DX) within the sector. Effective April 15, 2025, this alliance will see Nichyoku invest in Itowa as they work to improve operational efficiencies in funeral services.

Background of the Partnership

Nichyoku, headquartered in Tokyo, has a long history in the funeral business, offering services that include consulting on end-of-life matters. Recognizing the growing importance of technology in this space, Nichyoku has started integrating digital solutions, particularly those developed by Itowa, to advance customer service and operational capabilities. The positive impact of Itowa's application in real-world settings has been notable, enhancing customer engagement and attraction, ultimately leading to this strategic partnership.

Future Outlook

The funds obtained through this partnership will empower Itowa to invest in the research and development of new applications and services, thereby accelerating the company's growth trajectory. Similarly, Nichyoku aims to leverage this collaboration to further its DX strategy, aligning its services more closely with the increasingly diversified and sophisticated needs of clients in the funeral industry.

Synergies and Partnership Framework

The collaborative framework involves Itowa sharing essential insights related to cutting-edge service development with Nichyoku, as they work jointly on new offerings. Utilization of Nichyoku's expertise concerning market trends and client demands will help Itowa refine its development processes, ensuring practical applicability for its innovations. In return, Nichyoku will extend its extensive network and accumulated knowledge about the senior market to Itowa. This cross-pollination of ideas aims to enhance service quality and customer base growth, driving ongoing results for both companies.

Additionally, should Itowa seek further funding in the future, Nichyoku will be granted stock subscription rights proportionate to its shareholding, offering protection against dilution. This arrangement fosters a long-term cooperative relationship between the two firms, setting a solid foundation for future endeavors.

Shared Vision for the Future

Both Nichyoku and Itowa share a common vision focused on making end-of-life services more accessible and compassionate. With a guiding principle centered on 'human-friendly technology,' they intend to create new life-ending services that deliver comfort and certainty to families during difficult times.

About Nichyoku

Founded in December 1966, Nichyoku commenced operations as a sales agent for Tamaseikou Cemetery. Over the years, they have pioneered several innovations, such as Japan's first automated transfer-style columbarium and developing flower tribute services for funerals. Committed to addressing various concerns and issues surrounding the silver life phase for families, Nichyoku positions itself as a consulting company focused on senior living solutions.

Company Name: Nichyoku Co., Ltd.
Listed on: Tokyo Stock Exchange Standard Market (Code: 7578)
Capital: 1,847,556,272 JPY
CEO: Risa Miura
Business Lines: Funeral operations, cemetery and columbarium services, end-of-life consulting
Official Website

About Itowa

Itowa, based in Nagoya, specializes in developing applications tailored for the funeral industry, offering electronic condolence services and electronic recording of funeral events as part of its DX support services.

Location: Nagoya, Aichi Prefecture
CEO: Mitsuru Sakamoto
Business Lines: Development and provision of applications for the funeral sector
Official Website