BANGKOK, NNA - Japanese IT solution firm TIS Inc. has decided to invest in J Ventures Co., a digital transformation subsidiary of Thailand's Jay Mart Public Co., to expand its business in the Southeast Asian country.
Under a capital and business tie-up with J Ventures, TIS, a member of TIS INTEC Group, will develop new businesses, acquire customers and further strengthen its DX platforms in Thailand, the Tokyo-based company said last Friday in a press release.
According to a report filed by Jay Mart to the Stock Exchange of Thailand on Feb. 15, TIS will acquire some 2 million or 16.67 percent of J Ventures' outstanding shares, with the Thai company increasing its capital from 100 million baht ($3 million) to 120 million baht. A TIS official said the company will implement the investment on Thursday.
Jay Mart is a holding company of Jay Mart Group, a leading Thai distributor of mobile phones and accessories that also engages in retail and finance. It has a domestic network of more than 200 shops and over 4,000 sales agents.
The company established J Ventures in 2017 as a subsidiary to promote DX across the group, according to the release.
J Ventures offers its own e-commerce marketplace and other DX platforms as well as personal loan services to group companies and their customers, it said.
"As our group companies in Thailand have already collaborated with Jay Mart, we will strengthen the partnership through this investment and provide the Jay Mart side with TIS's IT solutions in the financial and payment processing fields," a TIS spokesperson told NNA. (NNA/Kyodo)