The 2022 Digital Transformation Champions in Financial Services
The Ministry of Economy, Trade and Industry (METI) has been collaborating with the Tokyo Stock Exchange (TSE) to strengthen the competitiveness of Japanese companies over the medium to long term through the strategic utilization of information technology.
From 2015 to 2019, an annual award for “aggressive IT management” was given to those companies deemed to actively utilize information technology to improve profitability and productivity, to highlight them as role models.
In 2020, the award was updated to highlight those companies that drive digital transformation (DX) to radically transform their business models to attain new growth and strengthening their competitiveness. It has since been referred to as “digital transformation brands”, or “DX brand” award.
The 2022 DX brand roster includes 33 companies across all industries, two of which, namely Chugai Pharmaceuticals and Nippon Gas, have been awarded the “DX Grand Price” for particularly outstanding efforts. Five financial services firms have been recognized as DX brand:
- Fukuoka Financial Group
- Tokai Tokyo Financial Holdings
- SBI Insurance Group
- Tokio Marine Holdings
- Tokyo Century
As one can argue that digital transformation is not a one-off effort, but requires sustained focus over multiple years, the true champion among this group is Tokyo Century, which has been awarded every year since the inception of the award in 2015. In fact, across all industries, only Bridgestone achieved the same feat.
Fukuoka Financial Group and SBI Insurance Group are first-time award winners, while Tokai Tokyo is a repeater from last year, and Tokio Marine Holdings previously won in 2015 and 2018.
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