SMBC Value Creation and AVITA Launch Joint Business Using Avatar Technology

SMBC Value Creation, a subsidiary of Sumitomo Mitsui Banking Corporation, and AVITA have entered into a new business partnership agreement to launch a joint business utilizing avatar technology. By combining the technologies and expertise of both companies, they aim to improve productivity at Japanese companies.

SMBC Value Creation has obtained approval from the Financial Services Agency for its conversion to an Advanced Banking Business Company, an entity that conducts business contributing to the improvement of convenience for bank users or business contributing to regional revitalization, productivity improvement of industries, and other sustainable society construction (a subsidiary of a bank as stipulated in Article 16-2, Paragraph 1, Item 15 of the Banking Act).