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NIIT ties up with CSK of Japan

The new joint venture will have a 50:50 equity ownership between the partners, CSK and NIIT, an HCL Group company with Singapore $3 million paid-in capital.

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The company will be incorporated in Singapore and shall address software business worldwide. The joint venture will target specific opportunities in Japan for system integration, software development and consulting and also address business originating in Japan for software services, mainly for Japanese companies, which are globalising operations.

The company will operate in Japan through a wholly owned subsidiary. The new company is the first Indo-Japanese transnational joint venture.

Dismissing any friction between HCL-Japan and the new venture, NIIT President and Chief Executive Officer Vijay Thadani claimed the two entities would cooperate and coexist.

Giving reasons for NIIT's thrust into the Japanese market, HCL Corporation Chairman Shiv Nadar said "Japan constitutes less than 4 per cent of software exports from India, whereas the $60-billion Japanese software industry is the second largest information technology market, after the US.''

The agreement was signed by Nadar and the CSK President Yoshiji Furushima.

The unique cultural and language needs of the market required them to partner with a Japanese company to gain access to this huge market, Nadar added.

The CSK Group consists of 90 companies in Japan and overseas, and has 15,000 employees.

- Compiled from the Indian media

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