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PRESS RELEASE
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Mumbai | Tokyo, February 8, 2012: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) the leading IT services, consulting and business solutions firm, and Mitsubishi Corporation, an integrated global business enterprise, announced a new joint venture, Nippon TCS Solution Center Limited, for the Japanese market.
The Nippon TCS Solution Center will offer a full-service suite of IT, BPO and infrastructure services to Japanese corporations. TCS Japan will have a 60% stake with Mitsubishi Corporation having a 40% stake. The new joint venture will also establish a nearshore delivery center in Japan.
The joint venture comes against the backdrop of a strong yen, the globalization of supply chains and a growing trend toward overseas mergers and acquisitions, all of which act as catalysts for the increasing globalization of Japanese companies. This has brought heightened interest in the role of “global IT services” to link domestic and overseas operations.
The nearshore delivery center will leverage Mitsubishi’s significant domestic market expertise as well as the processes and best practices of the TCS Global Network Delivery Model™ (GNDM), to meet the various needs of Japanese companies through enhanced solutions and service offerings.
N Chandrasekaran, CEO & MD, TCS, said, “Japan is a very important market for TCS and we are delighted to partner with a strong group like Mitsubishi Corporation in this market. The new joint venture will provide strong local market knowhow, deep domain knowledge as well as bring in global technology best practices to help Japanese corporations effectively respond to their global IT needs.”
N Chandrasekaran and Hideyuki Nabeshima, Senior Executive Vice President, Mitsubishi Corporation, have been appointed non-executive directors of the new company in a move that will see participation by senior management from both sides. Mitsubishi Corporation and TCS have already started collaborating in a wide range of areas that include establishing an IT support system, that utilizes TCS’ know-how and its Global Network Delivery Model™ (GNDM), for Mitsubishi Corporation’s overseas bases as well as implementing new employee training programs for Mitsubishi Corporation’s Business Services Division and for IT Frontier Co. Ltd. at its training center in Trivandrum, India.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™ (GNDM), recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 226,000 of the world’s best-trained consultants in 42 countries. The company generated consolidated revenues of US $8.2 billion for year ended March 31, 2011 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
About Mitsubishi Corporation (MC)
Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC’s current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, visit us at www.mitsubishicorp.com.
Email: Pradipta.bagchi@tcs.com|h.ramachandra@tcs.com
+91 22 6778 9999
Email: Kedar.shirali@tcs.com
+91 22 6778 9999