Mitsubishi Chemical Corporation (MCC) and MUFG (MUFG Bank) are jointly striving for practical use of a quantum computer that is known for its capacity to outperform a supercomputer. The two companies participated in the industry sector-led Quantum STrategic industry Alliance for Revolution (Q-STAR) in 2021, aiming to create a new industry by utilizing quantum technology.

Prior to this, both companies started studies on quantum computing technology by participating in IBM Q Network Hub＠Keio University when it was launched in 2018 as a quantum computing research center established by Keio University and IBM. In 2021, the companies also joined in the industry-led Q-STAR, beginning research activities to explore use cases of quantum computing applications.

At first glance, the businesses of both companies may seem unrelated to quantum computing. So why are they pursuing research in this field? To answer this question, we spoke with Qi Gao from MCC, Senior Chief Scientist at its Science & Innovation Center’s Materials Design Laboratory:

“Quantum computing represents a potential technological capacity to fundamentally transform society. So, MCC reasoned that it should start studies in this field early on to secure a position of leadership in the chemicals sector in the future, in terms of digital technology adaptation.”

Also, Junpei Kato from MUFG Bank, Vice President at Technology Strategy Management Department in the Information Systems Planning Division, shared his company’s view:

“Digital technology is very important in the financial industry, where it has played a key role in developing business activities as far back as the introduction of computation. We recognize the huge potential of quantum computing, and are seeking effective ways to utilize the technology for business development. All industries in the world are searching for good use cases and killer applications. Seeing it as a possible game changer, and in anticipation of future needs, we have decided to join the research activities.”

As of 2025, the two companies have been engaged in quantum technology research for seven years. What progress has been made during this period? According to Gao, quantum computing is currently in its “Noisy Intermediate-Scale Quantum computer (NISQ)” era, which is characterized by quantum processors with limited error correction functions and computational resources.

In this situation, the present world has two major paths to take. The first is to make the best of current NISQ devices to achieve practical applications, while the second is to pursue algorithm development to achieve the creation of Fault-Tolerant Quantum Computer (FTQC) in anticipation of possible future industrial applications.

The road maps drawn by IBM and Google were based on the prospect of FTQC technology acquiring the level of capability required for solving industrial issues around 2035. In light of this prospect, strategic actions should be taken to ensure appropriate preparation by starting now—even still in the NISQ era—to build effective algorithms and methodologies to run on future FTQC devices, which may become available earlier than expected.

Gao gave more details about present activities: “Currently, based on these two paths, we are conducting research aimed at applying quantum computers in fields such as quantum chemical calculations for materials, AI, and optimization.” Specifically, our work is expanding into a wide range of areas, including simulations of materials related to light and electricity (for example, semiconductors, OLEDs, and lithium batteries), applications in robotics, and the development of new platforms that combine generative AI with quantum computing for advanced materials discovery.

The situation at MUFG Bank was outlined by Kato, who said:

“We are also pursuing two approaches at the same time, for present NISQ utilization and future FTQC algorithm development. Our efforts are aimed at business applications for the financial industry, and centered on AI and financial market simulation modeling. We have produced some results in areas like quantum generative modeling for creating financial indexes and quantum AI for detecting unauthorized use of credit cards, as well as enhancing quantum simulation speed in preparation for future needs. Current devices are not advanced enough to handle business-scale computation tasks. Yet, our studies are making substantial contributions to accelerating the practical use of quantum computing through software development.”

Quantum computing has a huge potential capacity. Gao described its unique strengths using simple language, as below: “Supercomputers are the strongest performers, but even they reach the limit of their computing capacity—a threshold beyond which they can no longer function effectively. In contrast, quantum computers can go beyond the threshold, which is the key advantage of the technology. Once the threshold is surpassed, the quantum computer leaves the supercomputer far behind by computing hundreds of millions of times faster with exponential acceleration. Quantum computers can become more powerful in order to handle larger-scale computing tasks. Among such tasks are those for calculations for chemical compound simulations, where some areas are unavoidably left unsolved using a supercomputer, but can be addressed by a quantum computer due to its advantage.”

It should be noted, however, that quantum computing differs from the existing types of computing technology in the principle of operation, as computational and working processes must be reprogrammed to suit quantum computing operations.

What is the future outlook for quantum computing development efforts?
“At present, we are aiming to solve current social issues, and have set our targets for around 2030. By reaching our goals to at least to some extent, we will have sufficient achievements by around 2035 to address issues in various areas. In the field of quantum computing research, the United States is an established global leader, but in the past few years, Japan has increased development resources in this field to catch up with the United States in terms of research spending.” (Gao)

How will quantum computing technology development change the world?
“In Japan, one such future vision has been published by the government, which involves the target of increasing the total number of quantum computer users in the nation to 10 million by 2030. This figure includes users of mobile phones equipped with quantum computing functions, regardless of whether or not the user notices the fact. The vision also includes existing data centers becoming hubs for quantum computers, enabling everyone to access them via the cloud.” (Gao)

Actual pictures of a quantum computer show stern-looking equipment that contains the system. At its core is a set of tiny chips, which are housed by refrigeration units that keep the system at absolute zero—an essential condition for the chips to work.

A number of firms in the Mitsubishi Group, including MCC and MUFG Bank, are engaged in quantum computing research activities. The two companies are members of the Cabinet Office-led national project “Cross-ministerial Strategic Innovation Promotion Program (SIP).” What are the views of each on the significance of joint research efforts?

“I believe the most important thing is to contribute to industrial promotion. Development of quantum computing systems, whether software or hardware, cannot be handled by a single enterprise. It is a future technology, and should involve the entire human race in its development. Therefore, industry-government-academia cooperation, collaboration with corporations in various countries, and other forms of national and international joint efforts are needed.” (Kato)

“In order to achieve goals, cooperation with many parties is essential. At present, we know quantum computing has enormous potential, but we are yet to establish effective ways to use it. Moving forward, we need to seek good use cases while sharing the diverse perspectives of user companies. For this purpose, it is vitally important to form partnerships between user companies, particularly via open innovation activities, and to build and expand cross-company networks.” (Gao)