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SPARX Group Co Ltd is a Japan-based holding company engaged in the Asset Management Business and Investment Advisory Business, through its subsidiaries. It operates a variety of investment strategies through a host of entities. The group invests on behalf of corporate pension annuities, government entities, private and trust banks, and public pension funds. Strategies include Japanese equity, Asia ex-Japan alternatives, and Korean strategies. In addition to mutual fund offerings, the company offers advisory services to customers in Japan. Mutual fund offerings are offered directly or through brokerage houses, banks, and other intermediaries globally.

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&#39;Air Taxi&#39; Startup Joby Gets $590M Funding From Toyota, Intel, And Others

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Santa Cruz-based startup Joby Aviation has raised $590 million in a Series C funding round, the company <a href="https://news.jobyaviation.com/2020/01/15/joby-aviation-raises-590-million-in-series-c-financing-to-launch-air-taxi-service/">announced</a> Wednesday.

<h3>What Happened</h3>

Japanese automaker Toyota Motor Corporation (NYSE:<a class="ticker" href="/stock/TM#NYSE">TM</a>) led the funding round with $394 million investments in the secretive startup that wants to make air transportation &quot;fast,&quot; &quot;affordable,&quot; and environment-friendly.

Toyota will also share its &quot;expertise in manufacturing, quality, and cost controls&quot; with Joby, in addition to the capital. The company&#39;s executive vice president Shigeki Tomoyama will join Joby&#39;s board of directors.

Intel Corporation&#39;s (NASDAQ:<a class="ticker" href="/stock/INTC#NASDAQ">INTC</a>) venture arm Intel Capital, Sparx Group Co. Ltd. (OTC:<a class="ticker" href="/stock/SRXXF#OTC">SRXXF</a>), Capricorn Investment Group LLC., and the U.K. asset management firm Baillie Gifford also participated in the round, Joby said.

<h3>What&#39;s Next</h3>

Joby, which has been working on its all-electric vertical take-off and landing aircraft for the past decade, said that the funding would&nbsp;help it with the commercial launch of the vehicle that will make on-demand air travel available &quot;at a similar cost to driving.&quot;

&quot;Air transportation has been a long-term goal for Toyota, and while we continue our work in the automobile business, this agreement sets our sights to the sky,&quot; Toyota President and CEO Akio Toyoda said in a statement.

December last year, Joby and Uber Technologies Inc. (NYSE:<a class="ticker" href="/stock/UBER#NYSE">UBER</a>) jointly <a href="https://uber.app.box.com/s/fa4tcvyzbtmnxxgtnao4ex53s2xw7hf0">announced</a> a partnership where Uber would provide air support services and other infrastructure while Joby would operate the air taxis in &quot;densely populated urban areas.&quot;

Joby hasn&#39;t given any timeline on the public launch of the aircraft.

<h3>Price Action</h3>

Toyota&#39;s shares closed 0.72% lower at $139.36 at the&nbsp;New York Stock Exchange on Wednesday. The shares traded marginally higher in Tokyo at $69.86 on Thursday (local time).

Photo Credit:&nbsp;Courtesy of Joby Aviation

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Latest news for SPARX Group (OTC:SRXXF) Stock

Thursday, January 16, 2020