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Mitsubishi Corporation and Tata Consultancy Services Merge Subsidiaries to Form New IT Services Joint Venture

Tokyo, Apr 21, 2014 - (JCN Newswire) - Mitsubishi Corporation (MC) and Tata Consultancy Services (TCS) have reached an agreement to establish a new IT services company through the merger of three subsidiaries. The merger will combine MC Group IT service provider IT Frontier Corporation (ITF), Tata Consultancy Services Japan Limited (the Japanese arm of TCS), and Nippon TCS Solution Center Limited (NTSC), a joint venture between MC and TCS Japan. TCS and MC will each contribute 51% and 49% of initial investment capital for the new company, respectively, with operations scheduled to start on July 1, 2014, with headquarters in Tokyo. The venture will serve to deepen the collaborative framework between both companies as they pool their individual capacities to create synergies that deliver improved customer service and achieve sustainable growth.

By combining the customer service strengths and knowledge of the Japanese market developed by MC and ITF with the competitively priced IT services offered globally by TCS, the new company will make a contribution to upgrading the quality of IT services in Japan and improving its global competitiveness. In so doing, the new company will not only expand its presence in the Japanese market, but will also seek to provide speedy and efficient IT services that strengthen the capacities of Japanese companies to launch operations overseas. The new venture will also bolster the IT support structure for MC Group offices and subsidiaries worldwide by providing the upgraded and expanded IT platforms that are necessary for facilitating business development.

As an MC Group IT services firm, ITF has drawn on expertise developed from working with MC Group clients to provide services to a range of other Japanese enterprises. Japanese companies, including MC Group companies, have been rapidly increasing their overseas business activities in recent years and consequently, the need for competitive global IT support services and networks has also rapidly grown. The launch of this new venture will serve to strengthen the capacity of MC and ITF to more adequately respond to such needs.

As India's largest global IT firm, with a global presence in 46 countries, TCS applies its unique Global Network Delivery Model to provide highly competitive, high-quality services to customers. This TCS-MC partnership will, by way of the new company, seek to expand the Japanese market, while at the same time contributing to upgrading Japan's IT services and strengthening its competitiveness.

Global Network Delivery Model: This optimal model provides a framework in which TCS customers may obtain the services best suited to their needs without limitations based on location, language, culture, time and other barriers or those emanating from unforeseen disruptions such as disasters or unrest by accessing the services available through TCS's offshore network, located mainly in India, but integrated with TCS's near-shore service centers around the globe. Through this model, customers can be assured of the highest quality, but at minimum cost.

COMPANY PROFILES

1. About Tata Consultancy Services Limited

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering, and assurance services. This is delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India's largest industrial conglomerate, TCS has over 300,000 of the world's best trained consultants in 46 countries. The company generated consolidated revenues of US $ 13.4 billion for year ended 31 March, 2014 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com

Tata Consultancy Services, Ltd.

(1) Headquarters: TCS House, Raveline Street, Fort, Mumbai 400 001

(2) Business Activities: IT consulting, system architecture and operation, and other IT services

(3) No. of Employees: 300,000 (as of April, 2014)

(4) Representative: N. Chandrasekaran, CEO

2. About Mitsubishi Corporation

Mitsubishi Corporation (MC) is a global business enterprise that develops and operates business in wide range of industries. MC has over 200 offices and subsidiaries in approximately 90 countries worldwide and a network of over 600 group companies; MC employs a multinational workforce of over 65,000 people. MC develops operations in diverse fields through seven Business Groups, namely: Global Environmental & Infrastructure; Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials. In addition to these Business Groups, MC has also recently established a Business Service Group. For information, please visit our website: www.mitsubishicorp.com

Mitsubishi Corporation (MC)

(1) Head Office: 3-1, Marunouchi 2-Chome, Chiyoda-Ku, Tokyo 100-8086, Japan

(2) Date Established: April 1950

(3) Capital: JPY 204 billion

(4) No. of Employees: 65,975 (consolidated, as of March 31, 2013)

(5) Representative: Ken Kobayashi, President and CEO

3. About Nippon TCS Solution Center Limited (NTSC)

Nippon TCS Solution Center (NRSC) is a joint venture launched in 2012 between Mitsubishi Corporation (MC) and Tata Consulting Services (TCS) Japan. As TCS's near-shore delivery center in Japan, NTSC combines MC's unrivaled local market presence with TCS's exemplary global IT domain knowledge to offers a wide range of specialized IT services to meet the needs of Japanese corporations.

Nippon TCS Solution Center Limited

(1) Headquarters: Shinakoen 4-1-1, Minato-ku, Tokyo 105-0011, Japan

(2) Date Established: January 2012

(3) Business Activities: IT infrastructure outsourcing; business process outsourcing (BPO); system integration; applications development; maintenance and operation; and engineering services

(4) Capital: 350 million yen

(5) Investment Ratio: Tata Consultancy Services (TCS) Japan, 60%; Mitsubishi Corporation, 40%

(6) Representative: Kamala Kannan, Representative Director

About Mitsubishi Corporation

Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.



Source: Mitsubishi Corporation

Contact:
Mitsubishi Corporation
Telephone:+81 3 3210 2171 
Facsimile:+81 3 5252 7705



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