MONET Technologies Inc., a joint venture between SoftBank Corp. and Toyota Motor Corporation, announced that it concluded an agreement for a capital and business partnership with Hino Motors, Ltd. and Honda Motor Co., Ltd. to increase the value of its MaaS (mobility-as-a-service) business and enhance mobility service levels for users.

Hino and Honda each plan to invest ¥249.95 million (US$2.26 million) in MONET and acquire 9.998% of its shares.

This partnership will allow us to coordinate the vehicle data on passenger and object mobility that Hino collects from its trucks and buses and the data Honda obtains from its mobility services that utilize passenger cars and other vehicles so we can further evolve the MONET platform. By integrating these wide and varied datasets, MONET will build an advanced MaaS platform that helps enable an autonomous driving society and realizes safe and comfortable mobility services to enrich people’s lives.

—Junichi Miyakawa, President and CEO of MONET Technologies Inc. and Representative Director & CTO of SoftBank