Tinh Van Group Opens Branch Office in Japan
2016-11-18 11:35:32
On November 18, 2016, Tinh Van Software Export Joint Stock Company (Tinhvan Outsourcing, abbreviated TVO), a member of Tinh Van Group, officially inaugurated its branch office in Japan, named Tinh Van Software Export Japan Joint Stock Company (Tinhvan Outsourcing Japan, JSC – TVOJP).
TVOJP's office is located in Tokyo (Japan), one of the world's largest economic centers. The address is 1003, 10th Floor, Aios Gotanda Ekimae Building, 1-11-1 Nishi-Gotanda, Shinagawa-ku, Tokyo 141-0031.
The TVOJP inauguration ceremony was attended by Mr. Hoang To – Chairman of the Board of Directors of Tinhvan Group, Mr. Nguyen Ich Vinh – CEO of TVO, representatives from JETRO Tokyo – the organization that provided extensive support in establishing TVOJP, as well as long-standing Japanese clients of TVO.
Speaking at the ceremony, Mr. Hoang To said: “The Japanese market is particularly favorable for software outsourcing companies in Vietnam. Although we cannot yet compare with China or India in terms of management capability, efficiency, and technology, according to a recent study by the Japanese Ministry of Economy, Trade and Industry, up to 30% of surveyed companies expressed a desire to cooperate with Vietnamese firms, compared to only 22% for India and 20% for China. Vietnam has also captured approximately 6% of total outsourcing revenue from Japan. FPT Japan has been very successful in this market with high growth for 11 consecutive years since its establishment. Entering the market later, TVOJP will need to establish a distinct competitive strategy. Accordingly, we will not only focus on offshore and low-cost labor supply but also expand the market for software solutions, which is Tinh Van's strength. It is not easy to directly sell packaged products to a demanding market like Japan, but Tinh Van can leverage the extensive industry knowledge accumulated in its product lines to complement the traditional outsourcing segment.”
Ribbon-cutting ceremony for TVOJP Branch Office: Mr. Hoang To (second from left) – Chairman of the Board of Directors of Tinhvan Group, Mr. Nguyen Ich Vinh (far right) – CEO of TVO, along with guests.
Mr. Nguyen Ich Vinh – CEO of TVO stated: “The idea of opening an office in Japan was sparked from the early days when TVO identified Japan as a key market in the company's long-term development plan. We agreed that strong investment in this highly potential market is necessary, and establishing a branch office in Japan to maximize direct business with customers is considered a top priority. TVOJP will be a strategic stepping stone to enhance our competitiveness and build credibility and trust in this demanding and challenging market.”
After six years of developing the Japanese market, TVO now has a client portfolio that includes top-tier corporations from the Land of the Rising Sun. Currently, revenue from this market accounts for 65% of TVO's total revenue, with high growth rates. In addition, improving HR policies, investing in training, and encouraging employees to learn Japanese and obtain international technology certifications are part of the strategy to supplement a abundant workforce from Vietnam to work in Japan in the coming years.
After completing the launch of TVOJP, TVO expects to achieve 80% revenue growth in 2017 and maintain 50% growth in subsequent years, and to truly become the flagship of Tinhvan Group in its Go Global strategy.