• Published on 2 August 2024
• 579 Views
• Print

SMFG and University of Tsukuba partner for social transformation

Sumitomo Mitsui Financial Group (SMFG) and the University of Tsukuba, led by presidents Toru Nakashima and Kyosuke Nagata respectively, have concluded a comprehensive partnership agreement. 

This agreement, a new model of collaboration between universities and financial institutions, has been concluded to contribute to social transformation by promoting the science/technology advancement and human resource development by expanding this model across Japan.

Also, through this agreement, the University of Tsukuba, located in Tsukuba Science City which was established more than half a century ago, will undertake management reforms to develop a sustainable and competitive operational foundation. The SMBC Group will develop various collaborative initiatives as a transformation partner of the University of Tsukuba. They aim to become a model that fosters regional revitalisation and collaboration between universities and financial institutions.

The advancement of science and technology that drives society and industry, and the development of human resources that promotes progress are of the utmost importance in Japan, which is poor in natural resources. University institutions have been responsible for both advanced and cutting-edge research and development for human resources that will create the future. National universities have been in charge of world-class education and research, the inheritance and development of important academic fields, ensuring equal opportunities for higher education in all prefectures, and fostering global talent. However, the financial situation surrounding national universities is reaching its limits, with reductions in basic expenses as management expense grant, and other financial constraints.

Under such circumstances, the University of Tsukuba has been striving to be a university that transforms entrenched social systems and values. To solidify the foundations of university management, the University of Tsukuba has promoted various educational and research initiatives with a focus on social implementation and contribution. While conventional industry-academia collaboration generally involves setting individual themes and dividing responsibilities between researchers and businesses, diverse initiatives from this agreement aim to not only solve the University of Tsukuba's issues in the short term but also expand and connect with society and other universities. This is the beginning of a “new adventure” that will open up new horizons for the University of Tsukuba.

Meanwhile, the SMBC Group has placed “Creation of Social Value” as a pillar of its management policies in its current mid-term management plan and works to contribute to “Japan’s Regrowth”, which is listed as a key issue to be addressed.

By supporting universities—an organisation that brings together a wealth of knowledge and a connection to society—to improve their environment, enhance their competitiveness, and promote regional revitalisation that stems from these actions, it will lead to “Japan's Regrowth”, which must become increasingly important in the future. With these in mind, the SMBC Group resonates with the ideals of the University of Tsukuba, and as a transformation partner, the SMBC Group and the University of Tsukuba will work together to implement various initiatives towards social transformation.

Re-disseminated by The Asian Banker