Toyoshima & Co., Ltd. Mizuho is engaged in a series of processes from the purchase and sale of raw materials, yarns, and fabrics from all over the world, to the planning and production of final products, and is comprehensively developing business in all processes of the fashion industry. In addition, in a world where 5G and ICT are spreading and Society 5.0 is being promoted, we are seeking ways to contribute to society, and since 2017 we have been investing in venture companies with the latest technologies from the CVC Fund.
The U.S. federal government, in its 2018 Federal Farm Bill, defined hemp as hemp with THC concentrations of 0.3% or less, transferred hemp jurisdiction from the Drug Enforcement Administration to the U.S. Department of Agriculture, and legalized the cultivation of industrial hemp. With industrial hemp gaining attention as a sustainable natural fiber with a low environmental impact, the global industrial hemp market is estimated to be valued at USD 4.13 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2030, according to a recent study conducted by Forrester Research, a leading global research firm.
Since the U.S. federal government legalized hemp in 2018, FyberX has organized contract farmers to grow hemp in the U.S., providing them with the latest agricultural IoT and traceability technologies, and starting to treat them as U.S. organic hemp.
Through this investment, the two companies will collaborate to promote new natural fibers for the next generation through the TOYOSHIMA network, aiming to contribute to the future of sustainable fashion.
■FyberX CEO Ben Young Comments
"We consider the investment from TOYOSHIMA to be a great honor as it proves that our vision and technology align with the needs of the market."
■Toyoshima & Co., Ltd. CVC
We aim to "solve social issues and realize a comfortable life for each and every one of us for a world where everyone and things are connected by IoT." Since the establishment of CVC in 2017, we are working with venture companies in a wide range of fields, including companies possessing the latest technologies and companies developing next-generation environmental materials, to develop services and products to realize this goal.
Examples to date include the development of recovery sleepwear "BAKUNE" to reduce fatigue with TENTIAL Co., Ltd., which develops wellness-related businesses, and product proposals and social media operation support for AIQ Co., Ltd. and apparel companies that visualize not only superficial information but also data in invisible areas using AI technology.
■ FyberXhttps://fyberx.eco/
Since the U.S. federal government legalized hemp in 2018, we have organized contract farmers in the U.S. to provide the latest agricultural IoT and traceability technologies and treat them as U.S. organic hemp. In addition, we have a secondary processing technology that other companies do not have, and by modifying industrial hemp and changing its texture, it is possible to expand it to a wide range of applications.
Lifestyle proposal trading company
■Toyoshima & Co., Ltd.
Founded in 1841. Based on more than 180 years of experience, we are expanding our business domain in response to the changing times. We are comprehensively responsible for the supply chain of the fashion industry, from global raw material arrangement to final product planning, production management, and delivery. In addition, as a company that proposes a sustainable lifestyle, we will promote the development of sustainable materials and functional products toward the Society 5.0 society, and provide services utilizing information technology through investment and alliances with tech ventures. Since 2019, we have adopted "MY WILL" as our statement and set out our stance.
