Sumitomo Chemical sets up joint venture with Accenture

Japan-headquartered global chemicals producer Sumitomo Chemical is looking to digitalise its operations and create new tech-driven business streams. A joint venture has been set up with Accenture to manage this transformation. 

Based out of Tokyo and Osaka, Sumitomo Chemical is a global corporation producing chemicals for the plastics, energy, IT, health, automotive, engineering and agricultural industries, among several others. The company has more than 200 subsidiaries in over 50 countries, and distributes to over 100 markets worldwide. 

Sumika DZ Accent is a new enterprise that will help transform this gargantuan operation – using advanced Industry 4.0 tech to optimise the supply chain and deliver intelligent automation through artificial intelligence, analytics and robotics.

Providing the digital expertise is Accenture, which owns a 20% stake in the new venture while the rest is held by Sumitomo. The global professional services firm will take a comprehensive approach to transformation – featuring consulting support and complete with training programmes to equip the Sumitomo staff for a more digital operation. 

Masafumi Takei, a managing director in Accenture’s Resources practice in Japan, shed light on this approach. “In order to lead the digital transformation successfully, it is essential to reimagine businesses and operations and strengthen the talent using technology such as data analytics and artificial intelligence.”

“It’s not about just adopting new technology for technology’s sake but rather about choosing the right solutions and making sure people are comfortable using them. Accenture will leverage its deep industry expertise and ingenuity to ensure that the joint venture serves as a digital innovation engine for Sumitomo Chemical.”

And Accenture has vast expertise and experience to build on. The firm has a dedicated intelligent operations centre in Fukuoka, Japan, where it experiments with the latest in advanced technology to develop tailored solutions for Japanese clients. 

In 2019, the firm launched a joint venture with Tokyo-headquartered food and biotech company Ajinomoto – also with the end goal of digital transformation through process automation and artificial intelligence. With Japan leading the world in AI adoption, Accenture’s proposition in the country is set to bask in high demand for the foreseeable future.