Tuesday, Jul 16, 2024
Update At 14:00    USD/EUR 0,00  ↑+0        USD/JPY 0,00  ↑+0        USD/KRW 0,00  ↑+0        EUR/JPY 0,00  ↑+0        Crude Oil 0,00  ↑+0        Asia Dow 0,00  ↑+0        TSE 0,00  ↑+0        Japan: Nikkei 225 0,00  ↑+0        S. Korea: KOSPI 0,00  ↑+0        China: Shanghai Composite 0,00  ↑+0        Hong Kong: Hang Seng 0,00  ↑+0        Singapore: Straits Times 0,00  ↑+0        DJIA 0,00  ↑+0        Nasdaq Composite 0,00  ↑+0        S&P 500 0,00  ↑+0        Russell 2000 0,00  ↑+0        Stoxx Euro 50 0,00  ↑+0        Stoxx Europe 600 0,00  ↑+0        Germany: DAX 0,00  ↑+0        UK: FTSE 100 0,00  ↑+0        Spain: IBEX 35 0,00  ↑+0        France: CAC 40 0,00  ↑+0        

TORQ: The leading screw wholesaler starts to provide digital services as its revenue driver

Article - March 20, 2024

Known throughout Japan as the market leader of screws, TORQ has transformed into a digital services provider for SMEs in the construction and manufacturing trades.

Having grown its business hand-in-hand with Japan’s modern industrial development,  TORQ Inc. has provided monozukuri centered around screws for nearly 100 years. Today, in a challenging environment for the construction trade amid Japan’s increasingly aging population, TORQ Inc. is now focussed on reinventing itself as not just a screw wholesaler, but a digital services provider.

“A lot of SMEs and secondary traders have had serious succession issues in recent years, so in many cases they are now being absorbed by larger companies or simply closing down their businesses. In order to grow within the existing market, we try to do M&As or engage in partnerships within the industry, but also we are trying to provide new types of services besides the screws themselves,” explains TORQ president Toshiyuki Higaki.

“For example, we have developed a B2B e-commerce application which is called Neji Net, which allows clients to easily complete transactions online. By providing this service we are supporting the enhancement of their production capabilities and to date, we have completed transactions with approximately 1,000 businesses. I think this is a key strength of the company that differentiates us from our competition.”

TORQ has also independently developed a locker box for product delivery utilizing IoT technology. This smart locker is equipped with infrared sensors and remote surveillance cameras, allowing real-time monitoring of the storage status of packages. It also integrates with the company’s mobile device application software, available since May 2023, enabling safe and secure unmanned delivery of products around the clock.

And now, the company has begun offering these digital services to its customers in addition to screws, becoming a digital service provider.