Establishment of a New Subsidiary
METAWATER Co., Ltd. (Headquarters: Tokyo, Japan; President: Tomoyasu Kida; hereinafter referred as "METAWATER") is pleased to announce that it established METAWATER TECH Co., Ltd. (Headquarters: Tokyo, Japan; President: Makoto Shimizu; hereinafter referred as "METAWATER TECH"), a subsidiary responsible for maintenance, inspections, and other operations related to water utilities, effective September 1, 2014. METAWATER TECH will commence operations on October 1, 2014.
1. Background to the Establishment of METAWATER TECH
The aging of the public infrastructure in Japan constructed during the high economic growth period is becoming a major issue. Japan is likely to soon face the need to renew infrastructure crucial to daily life, including water utilities, on a massive scale. At the same time, the drinking water and wastewater business is facing various challenges, including financial difficulties and a shortage of engineers. There has been a growing trend to use public-private partnerships (PPP) - applying technologies, knowhow, human resources, and funds of private companies to the development, repair, operation, and management of public infrastructure - to address these issues.
Amid substantial changes in the business environment surrounding the drinking water and wastewater business, METAWATER is becoming increasingly aware of the need to accelerate its community based business and increase reliability as a provider of services that are highly public in nature. In order to promote regional strategies in Japan and focus on PPP projects, METAWATER has established METAWATER TECH, a subsidiary responsible for maintenance, inspections, and other operations related to water utilities.
METAWATER has been outsourcing maintenance, inspections, and other operations related to water utilities to outside service providers. The establishment of METAWATER TECH will enable METAWATER to internally carry out community based business activities including the services listed above. By doing so, METAWATER aims to strengthen and streamline its framework to receive orders. In addition, METAWATER will contribute to revitalizing local communities by creating regional employment.
2. METAWATER TECH Profile
|Company name||METAWATER TECH Co., Ltd.|
|Head office||1-25, Kanda-sudacho, Chiyoda-ku, Tokyo, 101-0041, Japan|
|Representative||Makoto Shimizu, President and Representative Director|
|Business description||Maintenance, inspections, contract construction, and other
operations related to water utilities
|Paid-in capital||50 million yen|
|Establishment||September 1, 2014|
|Business commencement||October 1, 2014|