Japan VR Summit Held: Leaders Pioneering New Futures Through VR Gather Together

On May 10, Greer and the VR Consortium held the Japan VR Summit (JVRS), a large-scale conference on the theme of virtual reality (VR), in Minato Ward, Tokyo. The aim was to connect corporate executives interested in the global VR market with key players from Japan and overseas who are already active on the front lines, with the goal of co-creating the market. The packed venue was filled with the enthusiasm of over 500 participants, and many media outlets, including numerous television cameras, were in attendance. The event brought together a full lineup of leaders in the VR field, including Oculus Rift, a VR pioneer that became part of Facebook last year; HTC; Sony, which is set to release PlayStation VR (PS VR) in October; and Greer, which announced a business partnership with Fuji Television in the VR field on the day of the event. A panel discussion was held under five themes: "Head-Mounted Displays," "Overseas Markets," "VR Games," "Development Environment," and "Investment in VR."

In the opening session, "The Great Transformation Brought by VR," moderated by Naotaka Fujii, Team Leader of the Adaptive Intelligence Research Team at RIKEN, three speakers took the stage: Terukazu Ikeda of Oculus, Raymond Pao of HTC, and Shuhei Yoshida of Sony Interactive Entertainment. The panel discussed the highly anticipated devices: Oculus Rift, HTC Vive, and PS VR. Insights emerged into how Oculus (which began with crowdfunding), smartphone manufacturer HTC, and Sony (a leader in home gaming consoles) are approaching development from their distinct positions and perspectives.

It was a passionate hour filled with memorable comments: "We want to make the Oculus Rift a device as ubiquitous as eyeglasses, with one per person worldwide" (Ikeda), "I believe all existing screens will eventually be replaced by VR" (Raymond), and "Without Oculus and Vive, we couldn't have pushed PS VR this far. We want to continue working together to energize the VR world" (Yoshida).

In the segment "Hit Games Born from VR," Colopl's Kojun Baba stated firmly, "We are seriously committed to VR." He explained, "Since the birth of moving images, we've been confined to rectangular screens, but VR completely removes that constraint. This is incredible," detailing how they are actively expanding their business into game content, fund establishment, and video production. Tetsuya Mizuguchi of Resonair, who established the VR-specialized publisher Enhance Games in the U.S. for its ease of accessing information and networks, discussed "Rez Infinite," a highly anticipated launch title for PS VR. Katsuhiro Harada of Bandai Namco Entertainment spoke about "VR ZONE," the world's first VR entertainment research facility, which opened for a limited time in Odaiba, Tokyo, on April 15th.

In the "VR Strategy from an Investor's Perspective" segment, companies pioneering VR-focused funds took the stage. Regarding Japan's current state, where investment remains less active compared to the US, Hirotaka Kunimitsu of gumi—involved in Japan's first VR-specialized incubation program and US VR fund operations—emphasized: "VR is the 'third wave' following the internet and smartphones. Waiting for the wave to arrive is too late. Those who believe and act early will win." Shintaro Yamagami of Colopl Next, which operates the Colopl VR Fund, introduced a strategy of "investing in areas that cannot be covered by our own company." Naoki Aoyagi of Greer, who established the GVR Fund, the world's first VR fund specializing in startups in North America, said, "The market will expand rapidly in 2018," and "Now, while there are still few rivals, is the time to invest." After multifaceted discussions comparing AR (augmented reality), the promise of platforms and formats, and tactics for securing investment, Mr. Kunimitsu stated, "In North America, tools and platforms are leading the way, but ultimately, it comes down to content. There is content that only Japanese people can create." Mr. Aoyagi agreed, saying, "Content offers the greatest opportunity for success (for Japan)."

Towards the end, Aoyagi shared his thoughts on JVRS: "I had sensed a gap between Japan and the US, but I now believe Japan already has serious platform players, and we can succeed here too. We must not let this fire die. What actions can we take from here? What services can we build? I want to create an entire industry with the support of many players." The event is scheduled for its second iteration this fall.

Outside the venue, VR experience booths sponsored by major manufacturers and game companies were set up, drawing such crowds that numbered tickets ran out by mid-morning.

 

All sessions and speakers are listed below.

Session I: "The Great Transformation Brought by VR"
Moderator: Naotaka Fujii (RIKEN)
Panelists: Mr. Terukazu Ikeda (Oculus), Mr. Raymond Pao (HTC), Mr. Shuhei Yoshida (Sony Interactive Entertainment)

Session II: "The Forefront of Overseas VR Business"
Moderator: Eiji Araki (Greer)
Panelists: Maureen Fan (Baobab Studios), James Chung (Reload Studios), Li Shen (Tencent), Jesse Joudrey (Co-founder, VRChat)

Session III: "Hit Games Born from VR"
Moderator: Shun Kubota (MoguraVR)
Panelists: Mr. Kojun Baba (Colopl), Mr. Katsuhiro Harada (Bandai Namco Entertainment), Mr. Tetsuya Mizuguchi (Rezonear, Enhance Games)

Session IV: "Latest Technology Trends Supporting VR Development"
Moderator: Yoshihisa Hashimoto (LIVZENT Innovations)
Panelists: Shu Ito (Unity Technologies Japan), Junya Shimoda (Epic Games Japan), Miyu Nishikawa (AMD Japan)

Session V: "VR Strategyfrom an Investor's Perspective"
Moderator: Hirotaka Kunimitsu (Gumi)
Panelists: Naoki Aoyagi (Greer), Shintaro Yamagami (Colopl Next), Amitt Mahajan (Presence Capital)