Infosys forms joint venture with Hitachi, Panasonic and Pasona in Japan to accelerate business process transformation

In December last year, Infosys had announced its agreement with these partners under which Infosys was to acquire 81 percent share in Hitachi Procurement Service Co

|Apr 01, 2019, 18:29:28 IST

New Delhi: India's second largest IT services firm Infosys Monday said it has completed the formation of its joint venture with Hitachi, Panasonic Corporation and Pasona Inc, strategically enhancing presence in Japan.In December last year, Infosys had announced its agreement with these partners under which Infosys was to acquire 81 percent share in Hitachi Procurement Service Co, Hitachi's fully owned subsidiary. Consideration for the 81 percent stake was 2,762 million yen (approx Rs 174.58 crore).Hitachi, Panasonic and Pasona are the minority shareholders of the entity.HIPUS Co Ltd - the new venture - has named Shinichiro Nagagata as chief executive officer, Infosys said in a statement.[caption id="attachment_4299991" align="alignleft" width="380"]

Representational image. Reuters.[/caption]The JV will be headquartered in Japan, and more than 200 employees will be part of it on the establishment."The joint venture, formed by complementary, iconic companies coming together, will accelerate business process transformation leveraging digital procurement platforms for the local and global needs of Japanese corporations," the statement said.It added that Infosys will bring its global expertise in procurement processes, consulting, analytics and digital technologies such as artificial intelligence (AI) and robotic process automation (RPA) to the venture.Combined with Hitachi and Panasonic's knowledge of their procurement functions and local teams, and Pasona's human capital and BPM networks in Japan, the entity will provide end-to-end, efficient and high-value procurement capabilities to corporations.

Brent crude flirts with $100, reigniting inflation and forex concerns for India

Experts say a prolonged rally above $100 per barrel is unlikely, but sustained high oil prices could push up inflation, widen the current account deficit and pressure the rupee.

2 min read

Can a record May offset a shrunk international schedule and help IndiGo turn a profit?

Record domestic market share boosts operating performance, but forex losses, rising oil prices and geopolitical disruptions could weigh on IndiGo's bottom line.

3 min read

China has dominated Myanmar’s rare earth mines — now India eyes deal to harness country’s critical minerals

India is deepening rare earth cooperation with Myanmar as New Delhi seeks alternative sources of critical minerals dominated by China, including dysprosium and terbium used in EVs, defence systems and clean energy technologies

6 min read

JPMorgan to hire 1,000 technology professionals for India GCCs amid AI-led transformation

Wall Street banking giant to expand hiring across cloud, cybersecurity and AI data pipeline roles as it strengthens its India Global Capability Centres despite AI-driven workforce optimisation.

1 min read

BOJ seen raising interest rates by December as weak yen fuels inflation risks

Majority of economists expect Japan's central bank to deliver a 25-basis-point rate hike by year-end, with further policy tightening likely through 2027.