Hitachi Systems announced that Micro Clinic India, an IT services company, has been converted to a Group company based on a share purchase agreement and a shareholders' agreement.
In India, demand for IT services is growing rapidly due to the accelerating pace at which Japanese and other foreign companies are entering the Indian market, and the expanding investment in IT as local Indian companies grow their businesses. Hitachi is seeing India as an important region in its global strategy and is stepping up development of the Hitachi Group's Social Innovation Business in the country. Hitachi aims to grow consolidated net sales in India by nearly three times to 300 bn yen(173.4 billion rupees) by the fiscal year ending March 31, 2016, compared with the fiscal year ended March 31, 2012.
Yoshinori Okami, Chairman and Director of Hitachi Systems Micro Clinic Pvt. Ltd. said " It gives me great pleasure to welcome Hitachi Systems Micro Clinic into the Hitachi Systems Group. The combination of more than 600 excellent engineers, as well as a strong customer platform of more than 200 clients at Hitachi Systems Micro Clinic, with the advanced IT technology, data centers and other infrastructure that Hitachi Systems has nurtured in Japan over more than half a century will not only contribute to the development of the Indian economy, which continues to grow at a spectacular rate, but also provide superior services that impress customers in East Asia and worldwide."
Aiming to secure and expand the business platform for IT services in India where the economy is growing at a rapid pace, Hitachi Systems, the core company for information and telecommunication systems in the Hitachi Group, is pleased to welcome Hitachi Systems Micro Clinic into the Group at this time.
The Hitachi Systems Group is deploying various measures aimed at achieving revenues of 500 billion yen( 289 billion rupees ) and an overseas sales ratio of 10% in fiscal 2015 as outlined under its medium-term management plan. The present acquisition is aimed at achieving these targets by strengthening and expanding the business in both India and the Asian region.
Tarun Seth, Managing Director of Hitachi Systems Micro Clinic Pvt. Ltd. said, "It is honor for Micro Clinic to be acquired by Hitachi Systems. Now the most exciting era begins for Hitachi Systems Micro Clinic in India. We have very aggressive growth plans in India. We will be introducing a bouquet of new services and add new products to our portfolio to increase our revenues with existing customers and acquire new customers. We will expand our presence in India, add Human Capital and also make this as the base to expand in Asia and Middle East. It will be our endeavor to make this a successful venture so that Hitachi group and other Japanese companies continue and increase their investments in India."