A Japanese artificial intelligence startup that had its IPO last week has exceeded $1 billion in market capitalization, even though it has yet to build a solid earnings track record, in a sign that shows an overheating stock market.
Japanese retail group Aeon is building an automated warehouse that uses artificial intelligence and robots in Chiba Prefecture near Tokyo to help manage stock and deliveries from online shopping, company sources said on Wednesday.
Japanese marine shipper Nippon Yusen has opened a facility in the Philippines that monitors ships for breakdowns and disrepair by analyzing real-time data through artificial intelligence.
Japan's MUFG Bank will use artificial intelligence to screen Asian startups for financing, looking beyond balance sheets to forge relationships with promising businesses who otherwise may not yet qualify for bank loans.
Toshiba will spend around 34 billion yen ($321 million) on a new research and development complex in Japan geared toward artificial intelligence and security technologies.
Preferred Networks, a Japanese artificial intelligence startup, is looking for new lines of business. Although the company enjoys backing from a number of big names in Japan, its latest move is motivated by its founder's growing unease over how long it is taking to develop practical uses for its technology.
Japanese electronics maker Panasonic is trying to transform its business into one that derives a big chunk of revenue from subscription and other recurring revenue streams.
As part of this digital makeover drive, the company is investing $800 million in Blue Yonder, a major U.S. provider of supply-chain management software.