Thursday, September 27, 2012

BWI: ICMG Japan Enters into a JV with Bizworth to Enhance Indo-Japan Trade Ties

Press release from Business Wire India
Source: ICMG Co Ltd Japan
Thursday, September 27, 2012 03:00 PM IST (09:30 AM GMT)
Editors: General: People; Business: Banking & financial services, Business services
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ICMG Japan Enters into a JV with Bizworth to Enhance Indo-Japan Trade Ties
ICMG Consulting India to advocate Intellectual Capital Management approach

Bangalore, Karnataka, India, Thursday, September 27, 2012 -- (Business Wire India) -- ICMG Co., Ltd, Japan , the acknowledged leader in the field of Intangibles and Intellectual Capital in Japan announced their India entry through a joint venture with Bizworth India Private Limited, a next-generation consulting company specializing in Intellectual Capital assessment, valuation and protection. The joint venture named as ICMG Consulting India Pvt. Ltd is a full-scope JV including equity participation and joint management, with 51% of the equity held by ICMG Japan and 49% by Bizworth India.

ICMG Consulting India Pvt. Ltd seeks to enhance Indo-Japan trade ties by mainly addressing two broad gaps in the consulting space: The Domain gap and the Geo-Economic gap. The Domain gap is a result of the lack of emphasis on intangible assets. The Geo-Economic gap is a result of the tendency to follow west-oriented consulting strategies, in spite of increased Asia centric business prospects.

The reason for the Domain Gap is that companies and consultants have often failed to understand or recognise the role played by intangible assets with the possible exception of patents. Tools and strategies to demystify such intangibles have been hard to come by. ICMG Consulting India is perhaps the only company in India and one of the very few in the world, which looks at all the intangible assets of the company on a holistic basis.

Commenting on the JV, Mr Hitoshi Funahashi, CEO, ICMG Japan said, "We are very excited to announce this JV with BizWorth which will help companies take advantage of their Intellectual capital towards sustainable growth. In the 60th year of Indo-Japanese diplomatic relations, we will also facilitate Indo-Japan cross-border JVs, M&As, collaborations and technology-transfers through this JV. Further, over the next three years, we hope to capture a sizeable percentage of the Indian market through our progressive plan of undertaking 60 projects across IC Rating Assessment and HR development as well as providing 30 customers with ICMG Consulting services."

Adding further, he said, "Although India traditionally suffers from a shortage of Financial and Physical Capital, it has an abundance of Intellectual Capital consisting of intangible organisational value, including organisational capital (Processes, culture), human capital (motivated people, knowledge systems and ideas) and relational capital (brands, networks and customer relations). Through this JV, we will support companies in evaluating and building their intellectual capital, to attain sustainable growth. One of the tools and services will be to provide the universally proven and globally acclaimed - IC Rating ®assessment". ICMG's global network and experience across all continents can provide companies with a truly global perspective.

Explaining the relevance during the economic slowdown, Mr. J. Suri, Director, ICMG Consulting India Pvt. Ltd said, "The Indian market has been identified as one of the most abundant geographies for Intellectual Capital. Through ICMG's offerings, companies in India can now harness their Intellectual Capital, optimize and leverage it. In the current economic scenario, companies can increase their valuations and exploit their existing resources and investment to increase growth."

Mr. S. R Gopalan - Director ICMG Consulting India Pvt. Ltd said, "ICMG Consulting India believes that there is a significant untapped niche in the Indian market for providing services with the Domain and Geo-Economic USP that ICMG Consulting India has. This niche will be among the fastest-expanding niches as India's economic destiny gets increasingly harnessed to the Asian region."

Adding on ICMG Consulting India first client, Mr. Gopalan said, "We have already started consulting for our first Japanese customer, a leader in the telecom equipment space and a subsidiary of one of the large Japanese Conglomorate. We are assisting them with their India entry strategy. Besides providing them with an understanding on the Indian market and the regulatory framework, we have introduced them to potential partners and customers and helped them to conduct techncial workshops. This is an in-depth, on-going engagement which will help them them to strategise their entry for success."

Notes to the Editor

Bizworth India Private Limited

Bizworth India Private Limited is a next-generation consulting company specializing in Intellectual Capital assessment, valuation and protection. Bizworth was founded in 2005 by a team of highly-qualified and experienced Indian professionals.

Bizworth provides both consulting services and execution support to enterprises enabling them to map, measure, manage, leverage, improve and protect their intangible assets. Bizworth brings to India, for the first time, IC RatingT, an internationally-acclaimed and validated methodology, which enables a company to assess, harness, and energize its Intellectual Capital.

Bizworth's deep understanding of intangible assets together with the financial background of its team provides it with a unique capability to provide valuation services at entity or intangible asset level. This is being increasingly sought after for transaction support as well as regulatory and tax reasons. With 200 such client engagements, Bizworth is one the leading practitioners in this area.

ICMG Co Ltd Japan

ICMG Co., Ltd, Japan is one of the acknowledged leaders in the field of Intangibles and Intellectual Capital in Japan and many other countries across the globe. It leads the transformation to a knowledge based society through advocating and practicing the value of intellectual capital management. ICMG Co Ltd Japan owns the globally acclaimed 'IC Rating' methodology for rating of Intangible Assets and Intellectual property of enterprises. Hitachi Ltd of Japan is an important shareholder of ICMG Co Ltd, Japan.

ICMG Consulting India Pvt Ltd

ICMG Consulting India Pvt Ltd is a joint venture between ICMG Co Ltd, Japan and Bizworth India Pvt Ltd. The acronym ICMG stands for 'Intellectual Capital Management Group', and the vision and mission of ICMG is to take the lead in fostering transformation to a knowledge society through advocating and tapping the value of intellectual capital management. ICMG firmly believes that Intellectual Capital represents the latent value of corporations and is an inbuilt natural resource for every company.



CONTACT DETAILS
S.R. Gopalan, Director ICMG India, ICMG, +91 (80) 41142626, srgopalan@icmg.co.jp
Pushya Siddharth, +91 (80) 41133277 - Ext - 29, pushya@gutenbergpr.com

KEYWORDS
PEOPLE, BANKING, BUSINESS SERVICES

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