Mitsui, Yahoo Launch Ticket-Pricing Service Reflecting Demand

June 5, 2018

Tokyo- Mitsui & Co. said on Monday that it has launched a joint company with two other firms to offer a service in which prices of concerts, and sporting and other events are set reflecting factors including demand.

Dynamic Plus Co., set up on Friday, is owned 62.6 pct by the major trader, 34.0 pct by Internet portal Yahoo Japan Corp. and 3.4 pct by major ticketing agency Pia Corp..

The new service will start with home games in July and later of the Yokohama F. Marinos professional soccer team, which is based in Yokohama, south of Tokyo.

Using artificial intelligence, appropriate prices will be calculated automatically based on factors including weather conditions, opposition teams and tournament rankings.

Event organizers will be able to avoid unsold tickets by lowering prices in times of sluggish sales and expand profit margins by raising prices when demand is brisk.

Mitsui said it aims to offer the dynamic pricing service to other sectors, such as hotel and parking lot operators, and distribution companies. Jiji Press