Toyota and SoftBank Joint Venture, MONET, Starts Operations

Toyota City, Japan, Feb, 01 2019; Toyota Motor Corporation (Toyota) and SoftBank Corp. (SoftBank) have completed investment in their joint venture, MONET Technologies Inc. (MONET), with full-scale operations commencing today.

Specifically, of MONET's three main business domains--1) on-demand mobility services, 2) data-analysis services, and 3) Autono-MaaS--the joint venture will first roll out on-demand mobility services. On-demand transportation through regional partnerships and corporate shuttles will begin in fiscal year 2018 through cooperation with local public agencies and private companies.

The objective of MONET is to help realize a safer and more comfortable mobility society by combining SoftBank's corporate philosophy, "Information Revolution--Happiness for everyone," with Toyota's vision of "Mobility for All."

About Toyota Motor Corporation

Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.