* In line with its vision of expanding global footprint, Experion Technologies has set its sights on providing exceptional product engineering & digital transformation services to the underserved Japan market.
* The Joint Venture will help in setting up an effective digital ecosystem in the Japanese IT market.
Experion Technologies, a global Product Engineering services company, has entered a joint venturewith Indocosmo Systems to create Experion-Indocosmo Technologies KK, a subsidiary of Experion Technologies Pvt. Ltd., to expand its reach to the promising shores of 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.
Taking Indian IT to the Land of The Rising Sun
“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. Binu Jacob, MD & CEO, Experion Technologies.
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.
“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. Davis Sebastian, MD & CEO, Experion Indocosmo, Japan.
Powering Japan’s Mission to Digitize:
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.
Ranked #28 in the 2021 IMD Digital Competitiveness metric, Japan must embrace digitalization to maintain its position as a top-three global economy. However, Japan's digital competitiveness index has stagnated for five years while neighboring Asian nations surge ahead. Although Japanese companies are accelerating digitization efforts, they still lag two years behind global peers.
The Government of Japan has prioritized digital transformation to secure its economic future. Some of the most notable ones include inaugurating the Digital Agency in September 2021, policies published over the past 5 years to encourage the shift toward “Society 5.0”, which draws a society that leverages technologies such as AI, the cloud and the IoT to support the convergence of the cyber and physical spaces, priorities in smart cities, disaster prevention and data platform and policy measures for the realization of digital transformation including investments in disruptive R&D programs, the creation of digital talents and appropriate IT infrastructures, the development of the startup ecosystem, as well as the provision of support and guidelines to encourage the private sector to adopt cutting edge technologies. In parallel, measures to materialize the digitalization of government services are implemented to evolve toward strong e-government.
“Surveys by some of the world’s top software firms show that a lack of partnership with digital players is one of the main reasons Japan lags in digital transformation adoption. They have observed weaknesses in the ability of organizations to collaborate and create partnerships with digital players to set up an effective digital ecosystem. This is also true for large organizations, which already benefit from a wide network but struggle to find the best and most suitable partners. This is where Experion Indocosmo will step in and make a real difference.” added Mr. Jacob.
In Japan, there is a strong emphasis on high standards and a commitment to delivering top-quality work. By joining forces with Indocosmo, Experion is poised to exceed these expectations and bring the best-in-class digital transformation solutions to Japanese enterprises. The Experion team is geared up to take on this exciting new phase of their growth journey, with employees undergoing cultural and language training to move onsite for the projects in the pipeline.
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