Matrics signed an agreement with Marubeni to become the distributor for Matrics in Japan. Marubeni will market Matrics RFID solutions through its subsidiary company, Mighty Card Corporation.
Mighty Card is widely recognized as the leading IC tag and RFID system solutions provider in Japan. To expand and strengthen Mighty Card's sales effort, Marubeni has officially formed a RFID Project Team, which is designed to help maximize the opportunities for Matrics solutions. As a Sogo-Shosha, a uniquely Japanese, all-around trading firm, Marubeni has extensive experience and expertise with a broad range of industries and markets, particularly in the areas of logistics and supply chain systems.
"We selected Matrics because of its top notch RFID technology and its announcement of PICA, which will enable the RFID transformation of the consumer goods supply chain, said Koji Kabumoto, President of Mighty Card. "With the PICA announcement and its release of the world's smallest chip in the UHF band, Matrics is working aggressively to reduce the cost of RFID tags and we intend to work just as aggressively to market the Matrics solutions."
The total RFID market, including related systems and services, is expected to reach JPY 300 billion by the end of 2005. Marubeni is poised to capture a large share of the market.
Rick Mora, Matrics' Chief Financial Officer and orchestrator of the Marubeni/Matrics relationship states, "With the Japanese government opening the 950-956 MHz frequency for testing RFID usage, Matrics views Japan as one of the fastest growth regions for RFID. Our partnership with Marubeni affords Matrics the opportunity to provide reliable RFID solutions to the Japanese market."