In December 2005 Sumitomo Corporation established a research division named the "Value Creation Initiative (Sumitomo Corporation)" within the University of Tokyo's Research into Artifacts, Center for Engineering, or RACE. It is the first such research division to be set up thereby a sogo shosha (integrated trading company). RACE has been carrying out long-range research in such areas as technology, society, and human engineering from a wide range of perspectives. The project that we have launched there aims to create new value by promoting research into the technologies that will become necessary to achieve a "sustainable society" in the future, addressing the fields of information technology, energy, and the environment. Sumitomo Corporation is approaching this initiative as a company-wide project. It involves University of To President Komi four business units--Machinery & Electric; at the January Media, Electronics & Network; Chemical; and Mineral Resources & Energy--and the Global Environment Dept. and is being conducted under the auspices of the Companywide Project Promotion & Support Committee, which was established to identify and back up undertakings of major significance and impact for Sumitomo Corporation as a whole. It will acquire knowledge for use in the search for new value by putting together our company's integrated corporate strength and the integrated technological research strength of RACE and the rest of the University of Tokyo, working to anticipate changes in social systems.
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