Investing in Japan
Latest UpdatesAmerican IT solutions company EPAM establishes joint company in Tokyo
Mar 19, 2019
EPAM Systems Inc. is an international software development company headquartered in the US (Pennsylvania), providing software engineering and IT consulting services. The company was founded in 1993 and was listed on the New York Stock Exchange in 2012 (NYSE: EPAM). It had achieved a growth rate of over 20% for 31 consecutive quarters in 2018.
EPAM’s global teams serve customers in 26 countries and regions across North America, Australia, Europe and Asia, with more than 26,000 employees in the world. It has 120 customers listed on the Fortune Global 2000 and its amount of sales in 2017 reached 1.45 billion US dollars. This has led to EPAM Systems being ranked twelfth in the Forbes 25 Fastest Growing Public Tech Companies in 2017.
The company provides solutions and services not only to software vendors and technology companies but also to various industries such as financial services, travel and hospitality, retail, life science, energy and insurance. “The digital transformation field,” which involves the digitalization of various aspects of daily life, has been a particular driving force for the company’s performance.
Until recently, EPAM Systems has handled dealings with Japanese companies from its Asian headquarters in Hong Kong. The company decided to set up a Japanese corporation in 2018 due to expanding business with major Japanese IT companies. It established EPAM Systems Japan G.K. in Tokyo in June of the same year to strengthen support for existing customers and develop new ones. Shortly after, in 2018, the Japanese subsidiary became one of the potential strategic location in EPAM's global network.
To assist with the establishment of the company’s base in Japan, the JETRO Invest Japan Business Support Center (IBSC) provided consultation on labor matters, information on incentive programs and business matching. The IBSC also referred a local PR company.