Nucleus Software expands operations in Japan

By Our Special Correspondent

BANGALORE, MARCH 20. Nucleus Software Exports, based in Delhi with development centres in Singapore, Bangalore and Chennai, has bagged orders worth Rs. 5 crores for providing customised software to Shinsei Bank, Japan.

The Shinsei Bank is the previous Long Term Credit Bank of Japan which was temporarily nationalised in October 1998 following a steep erosion in the health of its asset portfolio due to recession in Japan.

The Financial Reconstruction Commission decided to terminate the temporary nationalisation of the Long Term Credit Bank in March last year, when it resumed operations as a private institution under a new management team led by the legendary Japanese corporate leader Mr. Masamoto Yashiro. The bank was then re- christened as Shinsei Bank (`Shinsei' means rebirth).

According to Mr. Vishnu Dusad, Managing Director, Nucleus Software Exports ``The total Indian software exports to Japan can be in excess of $500 million in the year 2002-03. As a company we see a strong potential in this market. The Shinsei Bank order marks a good beginning for expanding our operation in Japan''.

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Section  : Business
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