Joint Venture Agreement for the Establishment of Drone Solution Business Company "PT JASA Global Orbitual" in Indonesia

Greenway Grid Global PTE. LTD. (Headquarters: Singapore, President, and CEO: Kazuhiko Shiba, hereinafter “GGG”) has signed a joint venture agreement with PT Demanu Sakti Group (Headquarters: Indonesia, CEO: Budiarthi, hereinafter “PTDS”) to establish a drone solution business company “PT JASA Global Orbitual” (Headquarters: Indonesia, hereinafter “JAGO”) on 16 March, to participate in the drone business in Indonesia, a country with rapid economic growth. This marks GGG’s first business development project.

In Indonesia, the demand for drone utilization for industrial and commercial purposes is increasing, particularly in the construction and agricultural sectors. PTDS, our partner in this venture, has experience in developing agricultural and resort facilities in the country and business opportunities in entertainment and other areas. They are a partner capable of utilizing drones for land surveying, equipment inspections, and video production.

Moreover, in Indonesia, drone operators are required to be licensed by law. Therefore, JAGO plans to form a business partnership with the Indonesian Drone Pilot Association (APDI: Asosiasi Pilot Drone Indonesia), a government-recognized association, to build a platform that matches JAGO’s clients with the approximately 3,500 licensed operators in the country (as of 2022), and to expand into the SaaS field in the drone market, aiming to activate this business further.

JAGO will also collaborate with TEPCO Power Grid, Inc. (TEPCO PG) to develop drone inspection technologies for power transmission towers, a standardization that is currently underway in Japan, and will provide feedback on drone solutions other than power equipment inspections already being deployed in Indonesia to TEPCO PG for creating new services.

We will use our technology, expertise, and customer base in the drone market in our country to not only expand our presence in the drone industry but also to develop new businesses in related fields and contribute to nurturing these industries. Our vision is “To Bring Happiness to the World,” hence, we will continue to solve the challenges faced by communities in Southeast Asia while also providing Japan with the latest global trends to further contribute to Japan’s development.

Attachment: Overview of Drone Business

Outline of drone business

1. Drone business overview

2. Signing ceremony for the joint venture contract for the establishment of the new company “JAGO” (implemented on 16 March 2023)

From left to right respectively (Members at JAGO)                            From the left

・Mr. Hendrik Eliza Abel (O&M；PTDS)                                                  ・Ms. Budiarthi Desa

・Mr. Tino Ardhyanto (CEO；PTDS)                                                         ・Mr. Tsuyoshi Numajiri

・Ms. Budiarthi Desak (Commissioner；PTDS)

・Mr. Tsuyoshi Numajiri (Commissioner；GGG)

・Mr. Kazuki Kito (General Manager；GGG)

*Commissioner is a position in the Indonesian company law that supervises the management of the company and can limit the authority of the CEO and board of directors.

<Reference>

• GGG Co., Ltd. is a joint venture company established in Singapore by Tokyo Electric Power Grid Co., Ltd., Chubu Electric Power Co., Inc., and ICMG Partners Pte Ltd.
• GGG Co., Ltd. aims to become a company that brings happiness to the world by conducting three integrated businesses: investment in next-generation infrastructure and new technology, development of new businesses, and training of transformational leaders.

<Inquiries regarding this matter>
Greenway Grid Global Pte. Ltd.
(Person-in-charge: Kito +65-9023-6603)