TCS hikes stake to 66% in Japanese JV with $32.6 mn investment

New Delhi: IT services major Tata Consultancy Services (TCS) Monday said it is increasing its holding to 66 per cent in TCS Japan Ltd – its joint venture with Mitsubishi Corporation (MC) – with an investment of 3.5 billion yen (USD 32.6 million or Rs 226.2 crore).

“The company through TCSNSE -0.26 % APAC, is acquiring 15 per cent stake from MC in TCS Japan for a total consideration of JPY 3.5 billion (about USD 32.6 million) and consequently, the holding of TCS APAC in TCS Japan will go up from the current 51 per cent to 66 per cent,” TCS said in a BSE filing.