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Experion Technologies, a product engineering services company, has entered into a joint venture with Japanese IT services company Indocosmo Systems to expand its market reach. Japan is the world’s fourth largest IT market, and its software revenue is projected to touch $23.95 billion in 2023, with enterprise software alone accounting for $9.88 billion.
“We have chosen Japan for our next strategic expansion with great anticipation and enthusiasm. 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,” said Binu Jacob, MD and CEO, Experion Technologies.
The 20-year-old Tokyo-based Indocosmo provides IT consulting and development with a predominantly onsite team. It has catered to the SME (small and medium-sized enterprises) segment for the past two decades.
Experion’s domain-specific capabilities in automotive, manufacturing, retail, transport and logistics, banking and financial services, and healthcare are expected to help cater to Tier 1 companies.
“Indocosmo’s extensive market knowledge and Experion’s unmatched experience in product engineering and digital transformation for a global clientele prime us to revolutionise the digital landscape here,” said Davis Sebastian, MD and CEO, Experion Indocosmo, Japan.
According to a report by the EU-Japan Centre for Industrial Cooperation, digital transformation and adoption of advanced technologies are expected to help Japan’s private and public sectors address challenges such as an ageing workforce and comparatively low productivity, while also revitalising the 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 per cent of core IT systems operating for more than two decades, Japan risks a 12 trillion-yen annual economic loss by 2030. The Covid pandemic has further exposed Japan’s digital delay and the need for rapid transformation.
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