Mitsubishi Corporation

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March 24, 2023
Mitsubishi Corporation

PoC Launched in Portland, Oregon to Develop Smart Multifamily Apartment

Mitsubishi Corporation (MC) is dedicated to helping develop vibrant communities that will continue to adapt and grow with the changing times. In addition to promoting sustainable growth in its urban-development operations, MC has established strategic relationships with startups in order to stimulate innovation and find solutions to many of the problems facing modern societies. These relationships are invested in MC’s aim to equip urban communities with functions and services that will enhance their value.
One of MC’s latest initiatives is an accelerator program that seeks to open pathways to a new and brighter future, both for itself and the communities it is helping to build. This program is designed to effectively combine the innovative ideas and technologies of startups with the management resources of MC and its group companies. Since the project’s conception, MC has been recruiting partners best suited to joint business creation and examining practical ways to apply technologies that might lead to successful and profitable collaborations.
MC is now pleased to report the launch of a new partnership within this project involving HOMMA Group, Inc. (HOMMA) and the MC subsidiary Diamond Realty Investments, Inc. (DRI). Based in Silicon Valley, HOMMA is a startup tech home builder engaged in the development of next-generation smart homes, while DRI is a developer of residential and industrial properties with offices located in Dallas and Los Angeles. Their partnership has commenced a proof of concept (PoC) aimed at demonstrating the merits of smart homes. The technologies and systems will be installed in certain units of a multifamily apartment development now under construction in the South Waterfront in the city of Portland, Oregon.
The smart units1 will be within a multifamily aparment2 that is being jointly built by DRI, Kyuden Urban Development America, LLC, a 100% subsidiary of Kyushu Electric Power Company, Incorporated, and the US  property developer, Alamo Manhattan. The aims of this PoC are to enhance the value of the properties and determine ways to incorporate these kinds of smart systems in future product plans for residential developments.
1. 340 high-rise building units and 232 low-rise building units. Slated for completion in November 2023. This PoC will be conducted in hi-rise building.
2. These units will be equipped with a variety of smart devices and sensors designed to more efficiently control lighting and air-conditioning, using for example a time-based scene-setting function to optimize dimmer and tone controls. The smart devices and properties will be centrally managed by an application developed by HOMMA.
In May 2022, MC announced its latest management plan, entitled “Midterm Corporate Strategy 2024 – Creating MC Shared Value.” One of the plan’s objectives is to help revitalize regions in Japan through joint digital (DX) and energy (EX) transformations. The former work is invested in creating independent, distributed communities that are both vibrant and convenient for residents and visitors alike, while the latter work is invested in leveraging renewable energies to create new, carbon-neutral industries. 
MC is also focusing on DX and high added-value creation in its real-estate businesses and is taking a number of steps to achieve those goals. These include conceiving new-property-value strategies that take advantage of digital technologies, collecting and applying data from both the properties it already owns and those it is currently developing, and taking steps to make all facets of its operations more efficient. MC is also enhancing its business model to marry DX-based digital platforms with EX initiatives aimed at decarbonizing our energy industry. Part of that model involves promoting as next-generation businesses smart-city-oriented urban-development projects both within and outside Japan.
For the most part, distributed communities and smart cities remain a dream for societies around the world. By forming tie-ups with partners engaged in smart, digital services that seek to enhance urban value and quality of life, introducing renewable energies that will help societies to achieve their carbon-neutral goals, and otherwise modernizing its real-estate operations, MC is taking significant strides towards realizing that dream.
About MC Accelerator Program (Urban Development)
About Diamond Realty Investments, Inc.
Headquarters                           :                5215 N. O’Connor Blvd., Suite 1000 Irving, TX, USA
Main Operations                      :                Investments in income-yielding properties including multifamily apartments, student housings, logistics properties
Representative                         :                President & CEO Kentaro Koga
Year of Establishment              :                1994
About HOMMA Group
Main Operations                       :                Development of next-generation smart housings mainly in USA
Representative                        :                Founder & CEO Takeshi Homma
Year of Foundation                  :                2016
About Alamo Manhattan
Headquarters                           :               3012 Fairmount Street, Suite 100, Dallas, TX , USA
Main Operations                      :                Development of multifamily apartments, hotels, and mixed-use properties
Representative                         :                President Matt Segrest
Year of Establishment              :                2010
About Kyushu Electric Power Company, Incorporated
Headquarters                           :                2-1-82 Watanabe-dori, Chuo-ku, Fukuoka, 810-8720, Japan
Main Operations                      :                Electric power generation, retail business (sale of electricity and gas), and others
Representative                        :                Chairperson Michiaki Uriu, President & CEO Kazuhiro Ikebe
Year of Establishment            :                1951
About Mitsubishi Corporation
Headquarters                          :                2-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
Main Operations                     :                MC engages in a wide range of businesses spanning multiple industries and overseen by its Industry DX Group and 10 Business Groups: Natural Gas, Industrial Materials, Petroleum & Chemicals, Mineral Resources, Industrial Infrastructure, Automotive & Mobility, Food Industry, Consumer Industry, Power Solution, and Urban Development.
Representative                       :                Katsuya Nakanishi, President & CEO
Year of Establishment           :                1954

Based on the Three Corporate Principles, which serve as MC’s core philosophy, MC has continued to grow together with society by contributing to the sustainable development of society through its business activities while pursuing value creation. MC’s revised “Materiality” was announced in Midterm Corporate Strategy 2024 as a set of crucial societal issues that MC will prioritize through its business activities, towards the strategy’s goal of continuous creation of MC Shared Value (MCSV). Guided by this Materiality, MC will continue to strengthen its efforts towards sustainable corporate growth. Out of the six material issues relating to “Realizing a Carbon Neutral Society and Striving to Enrich Society Both Materially and Spiritually”, this project’s activities particularly support “Contributing to Decarbonized Societies”“Promoting Stable, Sustainable Societies and Lifestyles” and “Utilizing Innovation to Address Societal Needs”.

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