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Friday, 14 December 2018, 13:10 HKT/SGT
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Source: Hitachi, Ltd.
Hitachi to Transfer Shares in Hitachi Procurement Service to Infosys, Panasonic, and PASONA
A new company, HIPUS aims to combine the strengths and expertise of each company, and accelerates process transformation led by digital procurement functions

TOKYO, Dec 14, 2018 - (JCN Newswire) - Hitachi, Ltd. (TSE:6501), Infosys Ltd. (NYSE:INFY), Panasonic Corporation (TSE:6752), and Pasona Group Inc. (TSE:2168), announced that a contract was signed on December 14, 2018, regarding the transfer of part of the shares owned by Hitachi in Hitachi Procurement Service Co., Ltd., Hitachi's fully owned subsidiary that handles indirect materials(1) purchasing functions for the Hitachi Group, to Infosys, Panasonic, and Pasona Group's subsidiary PASONA Inc. The transfer of shares is scheduled to take place on April 1, 2019.

Recently, as a result of advancements in digitalization, digital technologies such as artificial intelligence (AI) and robotic process automation (RPA) are being applied in conventional tasks, and there has been a growing trend toward streamlining and increasing efficiency in work processes, while at the same time strengthening corporate competitiveness. This is true of corporate procurement operations as well, where companies are facing an urgent need to apply digital technologies in order to achieve efficient procurement activities that demonstrate high added value, and to contribute to further enhancing their competitive strength. The trend toward business process management (BPM) and Business Process Outsourcing (BPO) is also accelerating, for example in corporate procurement and accounting processes, and the related service market in Japan is expected to expand even further in the future.

In this backdrop, Hitachi, Infosys, Panasonic, and PASONA agreed to form a new company in order to combine their strengths and expertise, and to further strengthen the procurement function of indirect materials. Hitachi will transfer part of the shares in Hitachi Procurement Service to Infosys, Panasonic and PASONA, and the shareholder composition after the transfer will be as follows: Infosys: 81%; Hitachi: 15%; Panasonic: 2%; and PASONA: 2%. After the transfer is complete, the new company name will be HIPUS, Ltd. HIPUS will combine Infosys's expertise in procurement on a global scale, BPM platforms, and advanced IT technologies with PASONA's human capital and BPO networks in Japan. Initially, it will strive to increase efficiency and added value through merits of scale, by applying BPO services in Hitachi's and Panasonic's procurement activities.

Furthermore, HIPUS will utilize Hitachi's, Infosys' and PASONA's respective customer bases to introduce BPM and BPO services in processes such as procurement and purchasing operations, and will roll out a broad range of other businesses as well, for example by introducing consulting, reverse auctions(2), and other purchasing schemes, and by providing training services related to procurement. In this way, it will aim to achieve transaction volumes on a scale of 400 billion yen(3) in FY2021.

(1) Indirect materials: materials used in a production process, but which can't be linked to a specific product or job.
(2) Reverse auction: a type of auction in which sellers bid for the prices at which they are willing to sell their goods and services.
(3) Hitachi Procurement Service's transaction volumes during the year ended March 2018 totaled 103.0 billion yen.

About Infosys Ltd.

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem. Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

About Panasonic Corporation

Panasonic Corporation is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. The company, which celebrated its 100th anniversary in 2018, has expanded globally and now operates 591 subsidiaries and 88 associated companies worldwide, recording consolidated net sales of 7.982 trillion yen for the year ended March 31, 2018. Committed to pursuing new value through innovation across divisional lines, the company uses its technologies to create a better life and a better world for its customers. To learn more about Panasonic: http://www.panasonic.com/global.

About Pasona Group Inc.

Ever since its foundation in 1976, Pasona Group's corporate philosophy, "Providing Solutions to Society's Problems" has not changed. The Company has aimed to build a better society and to create an infrastructure that provides each individual the opportunity to work and the freedom to choose the job of his or her choice.

Pasona provides HR Solutions worldwide (Temporary staffing, Contracting, HR Consulting, Place & Search, Global Sourcing, Outplacement, Outsourcing), and Life Solutions such as services in the childcare and elderly care area. The Company is also engaged in promoting local revitalization.


About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

Contact:
Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111


Dec 14, 2018 13:10 HKT/SGT
Source: Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501)

Topic: Press release summary
Sectors: Enterprise IT
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