Also launching a new company yesterday was IBM Japan Ltd, but this was a distribution and service joint venture with no fewer than 13 Japanese software companies, and it comes into being on June 25. IBM Japan Distribution and Service Industry Solution Co will be opening for business on July 1, and will be capitalised at $1m. IBM Japan will hold a 78.4% share, and eight Japanese companies, including Kanebo Ltd and Sumisho Computer Service Corp, will each hold 2.2%. Five other companies will equally hold the remainder of the venture, which will start with 240 employees. The new venture will provide consulting and software applications development services and will also stage seminars and offer related educational services to users in Japan.
