Biznext India : Indian IT giant Infosys (NYSE: INFY), today announced the formation of a joint venture with Hitachi, Ltd., Panasonic Corporation and Pasona Inc., strategically enhancing its presence in Japan. Infosys will acquire 81% of the shareholding in Hitachi Procurement Service Co., Ltd., Hitachi’s fully owned subsidiary that currently handles indirect materials purchasing functions for the Hitachi Group. Hitachi, Panasonic and Pasona will be minority shareholders of the entity.
Through these JVs Infosys is aiming to accelerate business process transformation leveraging digital procurement platforms for the local and global needs of Japanese corporations.
“This joint venture will help Japanese corporations transform their procurement processes using next-generation digital platforms, as we bring together the combined power of deep procurement expertise, technology, global expertise and local skills. We are very excited to partner with the Hitachi group, Panasonic Corporation and Pasona, established conglomerates in this market” Ravi Kumar, President, Infosys, said.
Infosys will bring its global expertise in procurement processes, consulting, analytics and digital technologies such as artificial intelligence (AI) and Robotic Process Automation (RPA) to the venture. Combined with Hitachi and Panasonic’s knowledge of their procurement functions and local teams, and Pasona’s human capital and BPM networks in Japan, the entity will provide differentiated, end-to-end, efficient and high value procurement capabilities to corporations.