Joint venture to accelerate business process transformation for enterprises leveraging digital procurement platforms.
Infosys today announced the formation of a joint venture with Hitachi, Ltd., Panasonic Corporation and Pasona Inc., strategically enhancing its presence in Japan. Executing on its strategy to help clients navigate their digital journey, the entity formed by complementary, iconic companies coming together, will accelerate business process transformation leveraging digital procurement platforms for the local and global needs of Japanese corporations.
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.
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.
Ravi Kumar, President, Infosys, said, “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.”
Deepak Padaki, Executive Vice President & Head, Corporate Strategy, Infosys, added that, “Japan is a strategic market for Infosys. This transaction is a significant demonstration of our commitment to building a local presence in the region in order to partner with our Japanese clients and accelerate their digital journey.”
Masashi Murayama, Chief Procurement Officer, Hitachi said, “We are delighted to build this new partnership, combining strengths and unlocking potential of Infosys, Panasonic, and Pasona. The procurement functions role is critical to Hitachi’ success, and this partnership will strengthen Hitachi Procurement’s global competitiveness with new operating models, and high quality delivery at speed enabled by digital technologies.”