Hitachi, Ltd. and Hitachi Triple Win Corp., an outsourcing entity the company established in 2000 to serve internal HR and finance needs, will jointly establish a new business to provide those same services for the Hitachi Group of companies and eventually other companies as well.
On April 1 of this year, Hitachi Ltd.’s Human Capital Solution Center and Hitachi Triple Win’s Finance Shared Service Division are scheduled to be transferred to the new company, which will become a wholly owned subsidiary of Hitachi. The name of the new business has not been determined.
The Hitachi Group is implementing various cost-cutting measures, and establishing the new company will help streamline finance and HR processes and procedures. The new outsourced service provider will eventually offer HR and finance services to other corporate groups, although the company has not announced when it would begin looking for external clients.
Hitachi Triple Win was first set up in 2000 as a shared-services entity serving only Hitachi, but the latest announcement indicates that the company is looking to commercialize its assets. The company said the plan is pending shareholder approval, expected to be completed in February.
If the plan passes, it would signal the entry of a new outsourced HR and financial service providers to the market and the first backed by a large Asia-based company.
Hitachi to Enter the HR and Finance Outsourcing Market
