Wipro Ltd, India's leading information technology services firm, is aiming to list on Tokyo Stock Exchange (TSE) in Japan, the world's second largest information technology (IT) services market after the US.
The plan is to list its stock in Japan in the next 2-3 years. Wipro is currently listed on Bombay Stock Ex- change and the National Stock Exchange in India and on the New York Stock Exchange or (NYSE) in the US.
The plan to list on the TSE was first reported by Nikkei Weekly published by Japan's largest media house Nikkei Inc. in the second week of October.
The Japanese IT market is dominated by local firms such as NTT Data Corp., NEC Corp., Hitachi Ltd and Fujitsu Ltd that have set up back-office facilities in neighbouring China to take advantage of low-cost outsourcing opportunities.
According to Nasscom, the Japanese market is worth around $110 billion (4.89 trillion), of which India has a very low share.
Besides listing on TSE, Wipro also plans to increase its work- force in Japan to around 1,000 over the next three years, according to the Nikkei survey.
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