Alibaba, Foxconn, get into robotics via Softbank

Alibaba Group Holding and Foxconn Technology Group have agreed to invest JPY14.5 billion each in SoftBank Robotics Holdings (SBRH), the SoftBank Group's intermediate holding company responsible for its robotics business. Upon the completion of the investment by Alibaba and Foxconn, SoftBank's SBRH share ownership ratio will become 60%, while Alibaba and Foxconn will each hold ownership stakes of 20%.

SoftBank, Alibaba and Foxconn will build a structure to bring the Pepper robot and its other robotics businesses to global markets, and cooperate with the aim of spreading and developing the robotics industry on a worldwide scale.

Masayoshi Son, Chairman & CEO of SoftBank, said, "Since foundation, we have followed our corporate philosophy of 'Information Revolution – Happiness for everyone.' I am very excited that we will partner with Alibaba and Foxconn, and challenge to go global with our robotics business, including Pepper, as a first step to realise our vision. To bring more smiles to people around the world, we will aim to be the No.1 robotics company."

Jack Ma, Alibaba Group Founder and Executive Chairman, said, "As we enter the data technology era, robotics will become a critical field that catalyses technological breakthroughs in numerous sectors such as healthcare, public services, research and at home. Our partnership with SoftBank and Foxconn combines the best hardware and software talent in the industry to pave the way for robotics research and development. We are delighted to play an active role in the emerging field of robotics, that with cutting-edge technology and transformative products and services, can positively impact millions of lives."

Terry Gou, Founder and CEO of Foxconn Technology Group, said, "As a leading global technology company, Foxconn is committed to investing in innovation that enables us to deliver cutting-edge solutions to our customers and that supports our goal of leveraging technology to bring greater convenience to the lives of consumers around the world."