Japan's business-to-business e-commerce market will grow faster than expected and develop in a unique way, according to Joseph Kim, president and chief executive officer of ICG Japan K.K. ICGJ provides financial and operational support to companies engaged in the B2B market.
"If you look globally at where the biggest concentrations of large businesses are, one is the United States and two is Japan," Kim said. "It's easy to say for us that in the long term, the B2B market will be the largest in those two economies," he said.
In order to claim a larger share of the growing market, ICGJ was established in June as the Japanese subsidiary of U.S.-based venture capitalist Internet Capital Group. It plans to create about 10 joint ventures with major Japanese companies by next spring.