Bengaluru, April 1: Global software major Infosys on Monday said that formation of a joint venture (JV) with electronics majors Hitachi, Panasonic Corp and Pasona (HIPUS) enhanced its strategic presence in Japan.
“The joint venture by iconic firms will accelerate business process transformation leveraging digital procurement platforms for the local and global needs of Japanese corporations,” said the city-based IT behemoth in a statement here.
Headquartered in Tokyo, the HIPUS JV will have over 200 employees, with Shinichiro Nagagata as its Chief Executive Office.
“We bring global expertise in procurement processes, consulting, analytics and digital technologies like artificial intelligence and robotic process automation to the venture,” said the outsourcing major in the statement.
Combined with Hitachi and Panasonic’s knowledge of procurement functions and local teams, Pasona’s human capital and BPM (business processes management) works in Japan, the JV will provide differentiated, end-to-end and high value procurement capabilities to corporations.
The JV accelerates BPM transformation for Japanese corporations leveraging digital procurement platforms.
With the procurement knowhow built on experience working with Hitachi group firms, HIPUS delivers procurement solutions.
“Under our ownership, the JV will have global expertise and local skills in procurement processes, consulting, analytics and digital technologies.”
As announced on December 14, 2018, the Singapore-based Infosys Consulting Ptd Ltd acquired 81 per cent equity stake in Hitachi’s subsidiary — Hitachi Procurement Service Co Ltd for $24 million (Rs 175 crore).
Panasonic and Pasona are minority shareholders in Hitachi arm.
In a regulatory filing on the BSE, Infosys said Hitachi arm had transferred 2 per cent each to Panasonic and Pasona to hold the remaining 15 per cent in the JV.
As Japan is a strategic market, Infosys Vice President Deepak Padaki earlier said the investment in the JV demonstrated its commitment to having a strong local presence in the region to partner with its Japanese clients and hasten their digital journey.
“We are building the new partnership, combining strengths and unlocking potential of Infosys, Panasonic, and Pasona,” said Hitachi chief procurement officer Masashi Murayama.
As procurement functions are critical, the partnership will also strengthen Hitachi’s global competitiveness with new operating models and delivery at speed enabled by digital technologies.