Software developer Neo Japan to set up local Thai unit
BANGKOK, NNA - Neo Japan Inc., a developer of packaged software and application systems, will set up a subsidiary in Bangkok next February in a joint venture with local partners.
Neo Japan said it took a board decision Thursday on the establishment of the joint venture, Neo Thai Asia Co., the second local unit in Southeast Asia for the Yokohama-based company, which launched a subsidiary in Malaysia in 2019.
Neo Thai Asia will be owned 49 percent by Neo Japan, and 17 percent each by Sumitomo Mitsui Financial Group Inc.'s three Thai firms -- SMBC Management Service Co., SBCS Co. and SMSB Co.
The new subsidiary will begin selling software sometime in February-April, the first quarter of its 2021 financial year, with key products including the "desknet's NEO" groupware that allows users to share business scheduling, conduct workflow checks and provide administration support.
Neo Japan timed the move with a Thai government policy to encourage small and medium-size companies to shift emphasis from using hardware-focused information technology tools to optimizing application programs aimed at improving the efficiency of business duties and productivity.
Japanese companies operating in Thailand, many being Neo Japan's customers at home, will be among the main targets for sales, according to an official of the company. (NNA/Kyodo)