Infosys looks to tap Japan market, forms joint venture with Hitachi

Acquires 81% stake in the joint venture for Rs 1.74 billion

India's second largest IT services firm Infosys on Friday announced the formation of a joint venture with Japan’s Hitachi Ltd., Panasonic Corporation and Pasona Inc., as it looks to enhance its presence in the island nation.

Infosys will acquire 81 per cent stake in Hitachi Procurement Service Co., a fully owned subsidiary of Hitachi which currently handles indirect materials purchasing function for the Hitachi Group. The three Japanese firms will hold the remainder of the 19 per cent stake in the joint venture.

“This joint venture will help Japanese corporations transform their procurement processes using next-generation digital platforms, as we