Tata Consultancy Services, India’s largest information technology services provider, on Wednesday announced a joint venture (JV) with Mitsubishi Corporation, to increase penetration in Japan, the world’s second largest IT market. With an initial investment of $5 million (Rs 24.5 crore) from TCS, the company will have 60 per cent holding in the JV, to be named Nippon TCS Solution Centre. It will also establish a nearshore delivery centre in Japan and have 1,500 employees. For TCS, the JV is part of a strategy to increase presence in that market. At present revenue from Japan is less than $100 million for the firm. With this JV, it expects revenue to touch $500 million in the next four to five years. “This is part of TCS strategy, to focus on markets like Germany and Japan. We think the partnership with Mitsubishi will significantly accelerate our presence in Japan.
Source: Business Standard
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