Quantum FOMM Acquires FOMM One Rights for Japan, Thailand and Global Market Expansion

Quantum FOMM Limited (“QF”), a subsidiary of Quantum Solutions (“Quantum”) and a joint venture with FOMM Corporation (“FOMM”), announced on 31 January 2022 that it has entered into a Framework Agreement (“Agreement”) with FOMM for the manufacturing and distribution of FOMM One, FOMM’s first electric vehicle model and one of Japan’s few approved EV kei car on the road today. This Agreement solidifies Quantum’s entry into the EV sector, laying the groundwork to become a leader in quality, affordable, micro-EV.

Through this Agreement, FOMM grants QF the exclusive licensing rights for the manufacturing and sales of FOMM One, along with all necessary intellectual property rights, in the countries and regions of China (including Hong Kong, Macau and Taiwan), Malaysia, Singapore, Indonesia, and Latin America. In FOMM One’s existing markets of Japan and Thailand, QF will partner with existing dealers for distribution of the vehicles.

Based in Kanagawa Prefecture, FOMM was founded in 2013 by a team of auto engineers who had previously developed electric vehicles at Suzuki Motor Corporation. Over the years, FOMM developed its first micro, electric four-seater kei car model, FOMM One, to cater to the specific needs of the Japanese market.

Specifically, in Japan, kei means “light”, and these vehicles are known for their affordability and small engines. The category makes up about a third of new domestic automobile sales annually, as the vehicles are a popular means of transportation especially in rural areas, where public transport systems are sparse and roads are narrow. While FOMM One is geared towards general consumers in the kei car category, demand is also expected from local governments, commercial businesses such as logistics company, ride-shares and more. As the Japanese government pledges to decarbonize Japan by 2050 with plans to ban the sale of new gasoline-only vehicles by mid-2030’s, FOMM One is well positioned for market share growth in the Japanese car market.

Beyond Japan, Quantum and QF plans to expand its footprint to select ASEAN and Latin America cities where national and local governments are embracing affordable and sustainable mobility solutions in unprecedented ways. Compensation of such rights is 200 million JPY, as announced in the “Notification for Change in Use of Funds from 8th Series of Stock Acquisition Rights.” Quantum plans to raise 175 million JPY through the Series 8 Stock Acquisition Rights and allocate the remaining 25 million JPY from cash on hand.

About Quantum Solutions Limited (2338.T)
Quantum Solutions is a Tokyo Stock Exchange listed company engaged in the EV sector.

About Quantum FOMM Limited
Incorporated in Hong Kong, Quantum FOMM is a subsidiary of Quantum Solutions and a joint venture with FOMM Corporation. The joint venture is designated for EV business of Quantum.

About FOMM Corporation
Based in Kanagawa prefecture of Japan and established in 2013, FOMM is an R&D and design-oriented mobility company specializing in planning and developing compact mobility using innovative designs and technologies.

Topic: Press release summary

Japan – Establishment of Quantum Strategic Industry Alliance for Revolution (Q-STAR)

The Founders’ Association of the Council for New Industry Creation through Quantum Technology was formed on May 31, 2021 to advance preparations for establishing an industry council to promote initiatives in quantum technologies. Today, the 24 companies of the association, at their general meeting, formally established the council under a new name, the Quantum Strategic Industry Alliance for Revolution: Q-STAR.

The quantum age is now approaching and expectations are growing worldwide for the realization of safe, secure lifestyles and a better society. Japan aims to position itself as a quantum technology innovation-oriented nation, and to create new industries through services that leverage its strengths in materials, devices, measuring technologies, computers and communications, simulations and other technologies. Q-STAR will contribute to this with global leadership in the promotion of activities that advance science and technology in this new era, and by promoting Japanese industry and strengthening international competitiveness.

Q-STAR will invite the participation of diverse industries that support its objectives and initiatives, and will collaborate with industry, academia, and government in promoting initiatives that apply new technologies, and establishing related technology platforms. Q-STAR’s concerns include reassessments of basic principles and laws related to quantum technology, carrying out surveys and making recommendations on its applicability and on necessary industrial structures, systems, rules, etc. Q-STAR will also aim to establish a globally-recognized platform that will promote collaboration with other organizations around the world working in quantum technology.
Outline of Q-STAR:

Name: Quantum Strategic Industry Alliance for Revolution
Established: September 1, 2021
Form of Establishment: Voluntary association

Steering Committee Members:
– Satoshi Tsunakawa, Representative Executive Officer, President and CEO, Toshiba Corporation (Chair)
– Takeshi Uchiyamada, Representative Director, Chairman of the Board of Directors, Toyota Motor Corporation
– Nobuhiro Endo, Chairman of the Board, NEC Corporation (Vice-Chair)
– Hiromichi Shinohara, Chairman of the Board, Nippon Telegraph and Telephone Corporation (Vice-Chair)
– Toshiaki Higashihara, Director, Representative Executive Officer, Executive Chairman & CEO, Hitachi, Ltd. (Vice-Chair)
– Takahito Tokita, Representative Director, CEO and CDXO, Fujitsu Limited (Vice-Chair)
Masayuki Waga, President & CEO, Mitsubishi Chemical Corporation (Vice-Chair)

Members of Q-STAR: 24 companies (random order):
– ITOCHU Techno-Solutions Corporation (CTC)
– SBS Holdings, Inc.
– Canon Inc.
– JSR Corporation
– Sumitomo Corporation
– SOMPO Holdings, Inc.
– Dai-ichi Life Insurance Company, Ltd.
– Dai Nippon Printing Co., Ltd.
– Daiwa Securities Group Inc.
– Chodai Co., Ltd.
– Tokio Marine Holdings, Inc.
– Toshiba Corporation
– Toppan Inc.
– Toyota Motor Corporation
– NEC Corporation
– Nippon Telegraph and Telephone Corporation
– Hitachi, Ltd.
– Fujitsu Limited
– Mizuho Financial Group, Inc.
– Mitsui Sumitomo Insurance Company, Ltd.
– Sumitomo Mitsui Financial Group, Inc.
– Mitsui & Co., Ltd.
– Mitsubishi Chemical Corporation
– Mitsubishi Electric Corporation

Main activities of Q-STAR:
1. Investigate and research trends in quantum technology
Investigate and research general trends in quantum technology, and share information among top management within industry
2. Investigate, research, and propose industrial applications of quantum technology
Investigate and research applicability in multiple fields
3. Investigate and examine quantum-related technologies
Investigate, examine and share information on materials and devices required for quantum technology
4. Investigate, plan, and make proposal for required human resources
Investigate, plan, make proposals and exchange opinions on how to develop the human resources needed to make full use of quantum technology
5. Investigate and examine systems and rules
Investigate and examine necessary information on intellectual property and standardization, ethics and trust required for the implementation of quantum technology
6. Collaborate with quantum-related organizations in Japan and overseas
Cooperate with other organizations, both domestic and overseas, working in quantum-related areas, in order to promote Q-STAR’s objectives
7. Others
Raise public awareness, make policy recommendations, etc.

Activities of the Subcommittees:

Q-STAR will identify areas to investigate in information and communication technology (quantum computing, quantum cryptography, etc.), basic technologies (materials, devices, etc.), important application areas (quantum materials, quantum biology/ medicine, quantum biotechnology, quantum sensors, quantum AI, etc.), human resources, systems and rules, etc., and establish further subcommittees as necessary.

– Subcommittee on Quantum Wave and Quantum Probability Theory Applications
Tasked with exploring the creation of new industries using quantum amplitude estimation and optimization. The objective is to create industries with the potential to become mainstays in various areas while also spanning multiple industries, including the financial sector, which has a close affinity with these technologies.

– Subcommittee on Quantum Superposition Applications
Tasked with taking a broad view of the systems, services, and businesses created by the application of quantum superposition, the most important capability of quantum computers. It will also examine changes in existing industries and industry structures that will result. By collaborating with users and vendors to draw a new image of society, the aim is to create new industries that will become future pillars and mainstays of industry, and that span multiple industries.

– Subcommittee on Optimization and Combinatorial Problems
Tasked with using quantum-inspired computing technology (Ising Machine) that almost instantaneously selects the optimum solution from among an enormous number of combinations to solve diverse problems facing industry in areas including real-time prediction, efficiency, and optimization.

– Subcommittee on Quantum Cryptography and Quantum Communications
Tasked with examining business use of quantum cryptography communication, a technology already available, and aim to open up a future pioneered by communications that guarantee information-theoretically security.

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 126,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$34 billion) for the fiscal year ended March 31, 2021. For more information, please see www.fujitsu.com.

For the media
Q-STAR press contact:
Toshiba Corporation
Corporate Communications Division, Media Relations Office
Phone: +81-3-3457-2100

Note: Please contact individual member companies directly with inquiries related to their specific activities.

Quantum Solutions’ Capital Alliance Partner Applies for IPO in Hong Kong

According to the announcement dated in respect to “Notification for Change in Use of Fund by the Capital Partnership and the 2nd Series of Unsecured Convertible Bond with Stock Acquisition Rights”, Quantum Solutions, through Asia TeleTech Investment Limited, an indirect wholly-owned subsidiary, invested in Limited Partnership (“LLP”) which in turn has invested in SenseTime Group Inc. (“STG”). The Group noticed that STG had filed an initial public offering (IPO) application with The Stock Exchange of Hong Kong Limited on August 27, 2021.

Details of this IPO will be disclosed as soon as possible after confirmation.

Quantum Solutions Co.,Ltd. Company Summary
Company name: Quantum Solutions Co.,Ltd.
(Second section of the Tokyo Stock Exchange Stock code: 2338)
Address: 102-0073. Kudan VIGAS Bldg. 3F, 1-10-9 Kudan Kita, Chiyoda-ku, Tokyo, Japan
Representative: SHAO YUN, Chairman of the board
Capital: 2,559 million yen
Businesses: Content development and distribution Software development
Company URL: https://www.quantum-s.co.jp/en/

Topic: Press release summary

Quantum Solutions Co., Ltd. shifts to focus on the EV business for its core development and its EV development plans in China

According to the “Notice Regarding the Memorandum of Understanding for Capital and Business Alliance with Shanghai LingKang Consulting Co., Ltd.” dated 21 June 2021, Quantum Solutions Co., Ltd. (hereinafter referred to as the “Company”) signed a Memorandum of understanding with Shanghai LingKang Consulting Co., Ltd (hereinafter referred to as “Lingkang”) in relation a business alliance including capital investment in the electric vehicle (hereinafter referred to as “EV”) sector. In addition, according to “Notice Regarding the Start of New Business and Capital and Business Alliance with FOMM Corporation” dated 12 July 2021, the Company announced that subject to approval by the board of directors of FOMM Corporation (hereinafter referred to as “FOMM”), a Japanese company, the Company would forge a business alliance including capital investment with FOMM in the EV business. The Company considers that embarking on business in the EV sector is within the business direction of 5G communications and AI.

The Company is still discussing with Lingkang and FOMM the details of the respective capital and business alliances. The Company has not at this stage yet confirmed whether to cooperate with Lingkang or FOMM in any such alliance. However, it is the Company’s intention to develop and focus on the EV sector as the core business in China. The reasons shift include: (1) Development of EV is a significant global trend. Take-up of EVs is expected to gradually replace the oil era of the past century plus and become mainstream in the next 30 to 50 years; (2) Japan’s EV industry has been developing at a slow pace lagging behind that of China, the United States and Europe for nearly two-to-three years. However, the Company believes that Japan’s EV industry will catch up with those countries in the next few years; (3) There is currently no influential listed electric vehicle company in Japan’s capital market in stark contrast to the US’ and China’s capital markets. Tesla from the US and BYD from China have market capitalisations of more than US$100 million and US$150 billion respectively. In addition, there are many other listed EV companies in the US and China, and their market capitalisations have already reached very high levels. In the future, as the awareness of the EV market increases, the EV business is expected to become an important highlight in the Japanese capital market; (4) From the perspective of rapid emergence EVs and autonomous driving, the trend of intelligent EV Internet and the overall development of the EV industry, the demand for EVs is expected to be very high; (5) While FOMM is a Japanese electric vehicle brand, the current Japanese electric vehicle market is not mature. Therefore, at this stage of development, it is more practical to quickly enter a mature market to grow the Company within a short period. Therefore, the short-term development strategy is to enter the Chinese electric vehicle market.

Generally regarded as “The World’s Factory” with the world’s most compete industrial supply chain to produce automobiles, more than 50% of global auto parts manufacturing is related to China. In addition, most of the world’s major auto parts companies have invested in China. Therefore, considering the stable auto parts supply and obvious cost reduction through elimination of import transportation fees and tariffs, it is beneficial to set up production facilities in China. In addition, apart from the advantages stated above, the Chinese government has implemented favourable policies for the EV business, and China is the largest market in the world. When mass production starts in China, the EVs can be exported to other countries. From the perspective of revenue generation, setting up production facilities in China offers considerable benefits.

In summary, the Company plans to focus on EV development and its production in China. The Company’s EV business will be developed in the general direction outlined below.

(1) Short-term strategy
Through mass production in China, the Company aims to reduce the selling price to less than 60% of current prices.

(2) Mid-term strategy
Focusing on “Japanese branded, made in China” small electric vehicles for small towns and rural areas of China.

(3) Long-term strategy
Many large Internet companies in China have announced plans to enter the EV market. The EV market in China is expected to be completely Internet-enabled within a few years. Therefore, the Company will actively look for cooperation opportunities with Internet companies to leverage the Internetisation of EVs.

Quantum Solutions Co.,Ltd. Company Summary
Company name: Quantum Solutions Co.,Ltd. (Second section of the Tokyo Stock Exchange Stock code: 2338)
Address: 102-0073. Kudan VIGAS Bldg. 3F, 1-10-9 Kudan Kita, Chiyoda-ku, Tokyo, Japan
Representative: SHAO YUN, Chairman of the board
Capital: 2,559 million yen
Businesses: Content development and distribution Software development
Company URL: https://www.quantum-s.co.jp/

For media enquiries:
Quantum Solutions Co.,Ltd.
Sylvia Chan
Email: info@quantum-s.co.jp

Topic: Press release summary

Quantum Works in Collaboration with One Pixel Brush

Glasgow, Scotland, 3 June 2021, ZEXPRWIRE, Quantum Works, a studio blending AAA gaming and cryptocurrencies, has partnered with One Pixel Brush creating a truly dynamic alliance. With Shaddy at the helm, the experience and artistic expertise of his team will no doubt see this project create one of a kind game play. One Pixel Brush is noted for their immersive track record creating worlds that are visually stunning and stay with you long after you have finished playing.  With previous clients such as Ubisoft, Infinity Ward, Naughty Dog, and Respawn. It’s no wonder we are expecting to see great things. 

Quantum Works have brought on Pixel’s founder Shaddy Safadi, as consulting art director for the project he brings along a wealth of knowledge and experience in AAA games. You will no doubt recognise some of his previous works which include award winning titles like The Last Of Us, Call Of Duty, Uncharted 4 and many others. 

Quantum Works, creating Project Quantum.

The Studio was developed in 2021 by Fraser Gordon, he noticed a niche and the market, an opportunity to create a AAA gaming Studio and title funded by its BEP20 token QBIT.  Integrated onto the Binance blockchain Quantum’s digital currency funded the seed money needed to open the studio through its presale alone, raising over $1 million in less than a second. Their first AAA title known as Project Quantum will be developed over the next 3 years. 

Quantum Works hopes to build a fair in-game system that uses its cryptocurrency as a real-world asset and makes in-game purchases and trades flow seamlessly from player to avatar. Users can earn by crafting items to trade for QBIT that they can then take out of the game and spend in real life. Quantum will also have high stakes PVP tournaments where participants can expect to find, win and steal high cash prizes, on a scale that is truly out of this world!

Project Quantum’s seemingly simple plot with have players look for artifacts and alien technology to reveal unknown secrets. Every item is valuable and everything you gain can be lost meaning you must choose your team carefully if you want to reap the massive in game rewards.

The native token, which has a total minted amount of 1 trillion, will be represented by the ticker QBIT. We believe this game will coin a new generation of “crypto gamers” eager to prove they have what it takes to survive.

Bonus Rewards for New Users

The first 5,000 users to sign up on the website and purchase its token have the chance to acquire one of a kind gaming items and early access to the beta version of the game.

  •          A random legendary item for the first 1000 people
  •          Diamond Hand Cosmetic enhancements for the first 200 users.
  •         A Diamond armor emblem for the first 4000 people
  •         Early Beta Access for the first 2,000 people
  •          A Diamond Weapon Detail for the first 3000 users

Quantum Works is a company we will be watching closely over the coming months.