Business Standard

TCS hikes stake in Japanese JV to 66% with $32.6 million investment

The increased equity is the latest in a series of investments that TCS has made in recent years to cater to the specific needs of Japanese corporations

TCS
Premium

TCS | Photo: Shutterstock

Romita Majumdar Mumbai
Global IT company Tata Consultancy Services (TCS) on Monday announced a 15 per cent increase in its stake in TCS Japan, its joint venture (JV) with Mitsubishi Corporation (MC), with an investment of JPY3.5 billion ($32.6 million). The JV was established between Mitsubishi and TCS APAC in 2014.

Following the stake hike, TCS will hold 66 per cent equity in TCS Japan, up from 51 per cent, and Mitsubishi will hold 34 per cent. Both reiterated their commitment to the market and to the success of the joint venture. Current governance of operations and management will remain unchanged by the share

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in