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4-Traders Homepage  >  Equities  >  Tokyo  >  Nippon Telegraph And Telephone Corp    9432   JP3735400008

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NTT : DATA to establish a subsidiary in Myanmar - Seeking to expand offshore development sites and launch local operations -(NTT DATA)

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04/20/2012 | 12:52pm CEST

NTT DATA Corporation has decided to establish a subsidiary in Myanmar, a country with a large potential for economic development. NTT DATA and its subsidiary NTT DATA Asia Pacific Pte. Ltd. (President and CEO: Ryoji Fukaya; Head office: Singapore) will jointly own the new company. With preparations for application for incorporation already underway, we plan to submit an application in mid-May and establish the company in September. The new subsidiary is expected to start operations by the end of this fiscal year.

NTT DATA is expanding offshore development sites for Japan in China, India, and Vietnam. Recognizing the large IT-related potential of Myanmar, which has made significant progress in democratization recently, we have decided to establish a business base in Myanmar. We believe that the country has many advantages as an offshore development center for Japan, such as being more cost competitive than China and India, the availability of ample human resources of high quality, and linguistic similarity between Burmese and Japanese.

Upon establishment of an offshore development site in Myanmar, we will create jobs by employing local people, contribute to the development of IT professionals in collaboration with a local computer college, and help Myanmar modernize and expand its economy.

The new subsidiary will be our offshore development center that mainly carries out software development projects outsourced from Japan. Beyond that, the company looks to provide support for Japanese companies operating in Myanmar and launch business directed at local financial institutions and government and public agencies, based on NTT DATA's track record in Japan.

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The services, prices of products and services, specifications, telephone numbers, etc. for inquiries and other information included in news releases are the data available on the day of the release. This information may be changed at any time without notice. In certain circumstances, due to various risks or unexpected occurrences, actual results may also be different from the plans or projections in news releases.

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