Hewlett-Packard Co., Marubeni Corp. and Hitachi Software Engineering Co. will establish a joint venture in March to offer electronic business and commerce solutions centering on Internet technologies, the three firms announced Thursday.
The new company, to be named Hewlett-Packard Solutions Delivery Ltd., will be capitalized at 1.1 billion yen, which will be eventually increased to 3.3 billion yen in a few years. Hewlett-Packard, a U.S.-based computer firm, will provide 51 percent of the capital, trading house Marubeni 34 percent and Hitachi Software the remainder, the three firms said at a Tokyo press conference.
The new company will begin operations in April in Japan with 100 employees and eyes sales of 10 billion yen in its first fiscal year. The joint venture will focus on such areas as supply chain management and customer relations management by utilizing the technology and experience of Hewlett-Packard and Hitachi Software as well as Marubeni's extensive contacts with prospective customers, the firms said.