Thiruvananthapuram, Kerala July 10, 2023: Global product engineering services provider Experion Technologies, has entered a joint venture with Indocosmo Systems to create Experion-Indocosmo Technologies KK, a subsidiary of Experion Technologies to expand its reach to Japan.
Japan is currently the fourth largest IT market in the world, and revenue from its software market is projected to reach US$23.95 billion in 2023. The largest segment is Enterprise Software, with a projected market volume of US$9.88 billion in 2023.
Indocosmo is a 20-year-old IT services company established in Tokyo, Japan. The company has extensive experience providing IT consulting and development with a predominantly onsite team. The company has catered to the SME segment for the past two decades, building strong relationships and business ties with Japanese clients. Experion’s expertise in product engineering, specifically their domain-specific capabilities in Automotive, Manufacturing, Retail, Transport and Logistics, BFSI and Healthcare- will elevate this invaluable foundation to offering services to Tier 1 companies. The long-standing relationships Indocosmo has in the Japanese market are set to be a sure pedestal from which this partnership will rise.
Says Binu Jacob, MD & CEO, Experion Technologies.“We have chosen Japan for our next strategic expansion with great anticipation and enthusiasm. Japan's rich culture of innovation, renowned for its attention to detail and precision, resonates deeply with our commitment to excellence in product engineering. The cultural synergy between our nations creates a strong foundation for collaboration and mutual success. With the strategic partnership with Indocosmo, we plan to bring Experion’s advanced tech capabilities, product engineering process competence, and learnings gained from other markets, such as the US, UK, Europe, and Australia, to this new shore of opportunity. This collaboration allows us to leverage Indocosmo’s deep understanding of the cultural landscape, language, and customer relationships, which will be instrumental in navigating the intricacies of the Japan market.” said Mr
Adds Davis Sebastian, MD & CEO, Experion Indocosmo, Japan: “We are thrilled about this transformative joint venture and the boundless possibilities it unlocks for our operations in Japan! Indocosmo's extensive market knowledge and Experion's unmatched experience & maturity in product engineering and digital transformation for a global clientele prime us to revolutionize the digital landscape here. Experion's technical skills, honed through delivering successful projects worldwide, give us a remarkable advantage in meeting the unique needs of customers in Japan,” said Mr.
According to a report by the EU-Japan Centre for Industrial Cooperation, Digital Transformation implementation and the adoption of advanced technologies are expected to contribute to addressing challenges in Japan’s private and public sectors - the aging workforce and comparatively low productivity, while also revitalizing the country’s economy through entrepreneurial innovation.
Japan faces a critical challenge, the "Digital Cliff," as highlighted by the Ministry of Economy, Trade and Industry (METI) in 2018. With a projected shortage of 430,000 IT professionals and over 60% of core IT systems operating for more than two decades, Japan risks a 12 trillion-yen annual economic loss by 2030. The COVID-19 pandemic has further exposed Japan's digital delay and the need for rapid transformation.