Japan’s largest auto retailer, IDOM Inc., will set up its global headquarters for a new technology-focused business in Melbourne, which will become the driver for research and development for the company.
The new IDOM Innovations HQ and IDOM Innovation Centre will create more than 500 jobs in Victoria over a period of five years, as the company develops technology solutions to support their global activities.
“Attracting companies like IDOM to Victoria means hundreds of jobs for workers now and into the future – and more opportunities for local businesses already leading the way in cutting-edge industries,” minister for Economic Development Tim Pallas said.
IDOM Inc. chose to establish IDOM Innovations in Victoria because of the state’s advanced tech capabilities and its ready supply of talent, including highly regarded tech graduates.
“The automotive industry is evolving rapidly to meet consumer demand. IDOM will use Victoria as a base to create new and innovative technologies with skilled local talent, expanding the business internationally,” IDOM Innovations chief executive Takayoshi Udagawa said.
Benefitting from the state’s culture of collaboration, the IDOM Innovation Centre will work in partnership with Victorian universities to focus on critical future technologies such as AI, Internet of Things, blockchain, digital twins, augmented and virtual reality, user experience and circular economy.
“This move by IDOM cements Victoria as a first-choice destination for tech innovation,” minister for Innovation, Medical Research and the Digital Economy Jaala Pulford said.
“It will broaden our research and development capabilities and foster the strong links between our universities and industry.”
Listed on the Tokyo Stock exchange, IDOM Inc. employs more than 4,600 workers around the world and has a market capitalisation of US$1 billion with annual turnover in excess of US$4.3 billion.
IDOM Inc’s vote of confidence in Victoria as a tech leader demonstrates the success of the Victorian government’s strategy to attract innovative global businesses that can create jobs and contribute to the continued growth of the economy.
Victoria’s thriving tech ecosystem contributes more than $38 billion to the economy and supports more than 139,000 workers across almost 20,000 businesses.
International tech leaders to announce new Victorian ventures in recent months include Onepoint (Asia-Pacific HQ), Crypto.com (Australian HQ), Bukalapak (first research and development centre outside Indonesia) and Data Science Group (AI centre of excellence).