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TCS deal with Mitsubishi

Mumbai, Feb. 8: Tata Consultancy Services the country’s top software company and Mitsubishi Corporation Ltd have announced a 60:40 joint venture called Nippon TCS Solution Centre Ltd to offer information technology, business process outsourcing and infrastructure services to Japanese corporations.

TCS and Mitsubishi Corp will invest $5 million in the venture, which will set up a delivery centre in Japan. TCS earns revenues worth $100 million from Japan annually. The company’s CEO and managing director N. Chandrasekaran said he expected this number to go up to half a billion dollars in four to five years. Japan is the second-largest IT market in the world after the US.

According to TCS, the joint venture comes at a time the yen is strong, supply chains are being globalised and overseas mergers and acquisitions are contributing to the globalisation of Japanese firms. “This has brought heightened interest in the role of global IT services to link domestic and overseas operations,” TCS said.

Chandrasekaran and Mitsubishi Corporation senior executive vice-president Hideyuki Nabeshima have been appointed non-executive directors of the new company.

 
 
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