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In order to capitalise on the attractive Japanese market, Experion Technologies, a worldwide provider of Product Engineering services, has formed a joint venture with Indocosmo Systems, Experion-Indocosmo Technologies KK. The software market in Japan, which is now the fourth biggest in the world, is expected to generate US$23.95 billion in sales in 2023. Enterprise Software is expected to generate $9.88 billion in revenue by 2023, making it the industry’s biggest subsegment.
Exporting India’s Cutting-Edge Experion Technologies to Japan
We’re thrilled to announce that Japan will be the site of our next major international expansion! Our dedication to superior product engineering is strongly reflected in Japan’s storied tradition of invention, which is recognised for its meticulousness and focus on the smallest of details. Our countries’ cultures complement each other well, which makes them ideal partners.
Through our relationship with Indocosmo, we want to bring ExpExperion Technologies, prowess in the product engineering process, and insights garnered in established markets like the United States, the United Kingdom, Europe, and Australia to the shores of Indonesia. By working together, we can take advantage of Indocosmo’s in-depth familiarity with the Japanese market and culture, language, and customer connections. Experion Technologies’ MD & CEO Binu Jacob.
Indocosmo, headquartered in Tokyo, Japan, has been providing IT services for 20 years. The firm is well-versed in delivering IT consultation and development by way of an onsite workforce. The firm has spent the last two decades focusing on small and medium-sized enterprises (SMEs), during which time it has established solid connections with its Japanese clientele.
Experion’s domain-specific competencies in Automotive, Manufacturing, Retail, Transport & Logistics, BFSI, and Healthcare, together with their extensive product engineering experience, will take this already-valuable foundation to the next level, allowing them to provide services to Tier 1 corporations. This alliance is poised for success thanks in large part to Indocosmo’s established connections inside the Japanese Experion Technologies.
We couldn’t be more excited with the game-changing potential of this joint venture for our business in Japan. Experion’s unparalleled expertise and maturity in product engineering and digital transformation for worldwide clients, combined with Indocosmo’s in-depth understanding of the local market, positions us to completely reshape the digital environment in this region. Mr. Davis Sebastian, MD & CEO, Experion Indocosmo, Japan, said, “Our technical skills, honed through delivering successful projects worldwide, give us a remarkable advantage in meeting the unique needs of customers in Japan.”
Fueling Japan’s Digitalization Efforts:
The EU-Japan Centre for Industrial Cooperation predicts that Japan’s private and public sectors will be able to address the ageing workforce and relatively low productivity by implementing Digital Transformation and adopting advanced technologies, thereby revitalising the country’s economy through entrepreneurial innovation.
In 2018, Japan’s Ministry of Economy, Trade, and Industry (METI) identified a serious threat, the “Digital Cliff,” facing the country. By 2030, Japan might lose 12 trillion yen per year economically due to a dearth of 430,000 IT specialists and the continued use of over 60% of critical IT systems that are more than two decades old. Japan’s digital behind and the necessity for quick change have been highlighted even more by the COVID-19 epidemic.
Japan has to adopt digitization if it wants to remain a top-three global economy and avoid dropping out of the top-30 in the 2021 IMD Digital Competitiveness index, where it is now ranked at #28. In contrast to other Asian countries, Japan’s digital competitiveness score has been flat over the last five years. Japanese businesses are trying to catch up to their international competitors by becoming more digital, but they are now two years behind.
To ensure Japan’s economic survival in the future, the government has made digital transformation a top priority. Notable examples include the launch of the Digital Agency in September 2021; the publication of policies over the past five years to promote the move towards “Society 5.0,” which envisions a society that uses technologies like AI, the cloud, and the Internet of Things to support the convergence of the cyber and physical spaces; and the establishment of priorities in smart cities, disaster prevention, and data platforms and policy measures for the realisation of digital transformation, such as investments i. While moving towards a robust e-government, steps are taken to actualize the digitization of government services.
Research by leading software companies suggests that Japan’s slow acceptance of digital transformation is due, in part, to the country’s reluctance to forge partnerships with digital players. They have found that businesses’ capacity to work together and form partnerships with digital stakeholders to establish an efficient digital ecosystem is lacking. This is true even for major corporations that have access to a vast network but still face difficulties in selecting the most ideal business partners. Experion Indocosmo will have a significant impact in this area. Jacobs said.
High expectations and a dedication to providing excellent results are valued highly in Japanese society. Experion is well positioned to provide world-class digital transformation solutions to Japanese businesses thanks to its partnership with Indocosmo. Employees of Experion are receiving cultural and linguistic training in preparation for relocating to the field for the next projects.
