Toyota and SoftBank JV, MONET, starts operations

Toyota Motor Corporation and SoftBank Corp.have completed investment in their joint venture, MONET Technologies Inc., with the beginning of full-scale operations.

Specifically, of MONET's three main business domains―1) on-demand mobility services, 2) data-analysis services, and 3) Autono-MaaS―the joint venture will first roll out on-demand mobility services. On-demand transportation through regional partnerships and corporate shuttles will begin in fiscal year 2018 through cooperation with local public agencies and private companies.

The objective of MONET is to help realise a safer and more comfortable mobility society by combining SoftBank's corporate philosophy, “Information Revolution—Happiness for everyone,” with Toyota's vision of “Mobility for All.”

Junichi Miyakawa will be the President and CEO of MONET. He is the Representative Director & CTO of SoftBank Corp. SoftBank holds 50.25% shares in the JV while Toyota holds 49.75%.