JVCKENWOOD Establishes Innovation Design Center

JVCKENWOOD Corporation (“JVCKENWOOD”) announced that it will establish the Innovation Design Center on October 1 as a new organization to practice design management by developing interfaces and service infrastructure for creating and discovering new business opportunities.

In the value creation process implemented by JVCKENWOOD, the Innovation Design Center aims to help create business opportunities by enhancing human capital and intellectual capital that contribute to the sustainable enhancement of corporate value, and circulate economic and social value generated from such opportunities into new management capital.

Background and objectives

To realize its corporate philosophy “Creating excitement and peace of mind for the people of the world,” JVCKENWOOD has the management principles “Creating new value through Monozukuri,” “Building a corporate culture that adapts and embraces change” and “Investing in people to strengthen capabilities and push boundaries.” Under the medium-term management plan “VISION 2025,” one of the basic strategies is to promote sustainability management based on both “profitable growth” and “solving social issues on a global scale.” JVCKENWOOD is also working to strengthen design management with customers as the starting point to create new value.

JVCKENWOOD believes that interaction between ideas of business divisions is the source of new value, and that innovation can be realized by taking advantage of such interaction and resources such as technology. Based on this concept, the Innovation Design Center, as an organization that practices design management with customers as the starting point, aims to create innovation as new value by attracting diverse human resources beyond the boundaries of existing organizations, developing hypotheses of “business that can earn money (business that can secure a profit)” based on our technology and marketing with customers as the starting point, and conducting proof of concept (PoC). In addition, looking to sustainably enhance corporate value, the company will work to develop human resources that “adapt and embraces change” playing a leading role in the Center, and create infrastructure for developing sustainable products and services that contribute to “solving social issues.”

Roles of the JVCKENWOOD Innovation Design Center

1. Developing hypotheses of new business opportunities and testing them to support the creation of “new businesses that can earn money” Based on technologies, intellectual property and other resources owned by JVCKENWOOD, as well as marketing specific to markets and customers as the starting point, the company will develop hypotheses of new business opportunities and conduct proof of concept (PoC) to clarify their effectiveness and feasibility, to support the creation of “new businesses that can earn money.”

2. Strengthening required human capital and promoting the development of human resources capable of realizing innovation JVCKENWOOD will strive to develop unique human resources that have multiple skills or talents capable of playing a role in the Center and realizing innovation, and respect diversity with a view to sustainably enhancing corporate value. The company will enhance the required human capital.

3. Practicing open innovation and building infrastructure for launching sustainable products and services The Center will be committed to active external disclosure of its human resources, intellectual property and opportunities acquired through its projects, and support the creation of a new cocreation environment with external partners. Specifically, in conjunction with the promotion of sustainability management, which is the basic strategy of the medium-term management plan “VISION 2025,” JVCKENWOOD will increase opportunities for cooperation, co-creation and partnership among industry, academia and the government and with different industries, such as open innovation and collaboration, and create infrastructure for launching sustainable products and services.