TCS, Mitsubishi form joint venture firm to focus on Japanese mkt

IT major Tata Consultancy Services on Wednesday said it had entered into a pact with Japan's Mitsubishi to set up a joint venture in Japan.

The new firm, Nippon TCS Solution Center, will focus on the Japanese market and provide a range of service for IT, business process outsourcing (BPO) and infrastructure services to Japanese corporations.

"Japan is a very important market for TCS. The new (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 Chandraseakaran, chief executive and managing director, Tata Consultancy Services, said.

According to TCS, it will own up to 60 percent in the new stake. Mitsubishi will hold 40% stake.

"The joint venture will establish a nearshore delivery center in Japan. The nearshore delivery center will leverage Mitsubishi's significant domestic market expertise as well as the global expertise of processes and best practices of the TCS," the company said in a statement.