SoftBank ties up with Iris Ohyama to recharge its ambitions in robotics

Photo: Jason Leung / Unsplash

SoftBank Group Corp‘s robotics unit announced on Wednesday a joint venture with Japanese electronics maker Iris Ohyama, as the conglomerate looks to juice up its robotics business.

SoftBank Robotics, whose Pepper robot is a symbol of the company and Chief Executive Masayoshi Son’s grand technological ambitions, is an outlier, as the group eschews operating businesses in favour of investing.

The joint venture, Iris Robotics, offered an ambitious forecast of 100 billion yen ($965 million) in sales by 2025, but provided little detail on future products at a press conference.

Household goods maker Iris Ohyama, which has a 51% stake in the venture, is becoming an increasingly potent force in Japan’s electronics sector as it moves steadily up the value chain.

Last month, SoftBank announced the sale of robotics firm Boston Dynamics to Hyundai Motor Group and its chairman.

Reuters

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.