SMBC and CHANGE Holdings enter into business partnership

Norbert Gehrke

21 Mar 2025 — 2 min read

Sumitomo Mitsui Banking Corporation (SMBC) and CHANGE Holdings have signed a partnership agreement with the aim of promoting initiatives in response to growing corporate interest in solving social issues and contributing to regional revitalization. Through this partnership, both companies will strengthen their collaboration to solve regional issues through cooperation between local governments and corporations.

Background and Objectives of the Business Partnership

Regional economic development is essential for Japan's overall economic growth, and in recent years, the importance of solving regional issues and social contribution has increased further.

In this context, SMBC has been working to solve social issues together with businesses, local governments, and regional banks across Japan by utilizing the broad range of solutions offered by the SMBC Group.

Similarly, CHANGE Holdings has been engaged in regional revitalization by developing new businesses that address regional issues using digital solutions.

Through this partnership, both companies will leverage their strengths to support further activation of public-private partnerships throughout Japan, aiming for sustainable development through solving regional issues together with their customers.

Overview of the Business Partnership

The following initiatives will be implemented through this partnership:

Business initiatives utilizing the corporate version of furusato nozei (hometown tax donation): SMBC and JICHITAI AD, a group company of CHANGE Holdings, will begin matching services to meet the corporate version of furusato nozei needs of both corporations and local governments. This will promote regional revitalization and corporate social contribution.
Consideration of other businesses promoting public-private partnerships: Leveraging the comprehensive strength of the SMBC Group and CHANGE Holdings' wide range of solutions in the public sector, we will explore business opportunities that lead to solving regional issues and public-private partnerships.

Note: JICHITAI AD is a wholly owned subsidiary of Hope (Securities Code: 6195 TSE Growth). In addition to advertising business specialized for local governments, the company provides support services for the corporate version of furusato nozei. In 2022, CHANGE Holdings and Hope formed a capital and business alliance, and JICHITAI AD became the entity responsible for supporting the corporate version of furusato nozei business within the CHANGE Holdings Group. As of the end of December 2024, they have contracts with 343 local governments, boasting one of the industry's top contract achievements.

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