Global consulting firm Nomura Research Institute (NRI) will acquire 25.1 per cent stake in Market Xcel Data Matrix Pvt Ltd, a local research company, for an undisclosed sum, Nomura has said in a statement today. Acquiring significant stake in the local research firm would help the Japanese research major to secure a strong base for research and consulting business activities in India, the statement further added.
Market Xcel Data was established in 2000 as a data collection agency and the company now handles end-to-end research projects. Currently, the firm employs 38 people and has offices in Delhi, Mumbai, Bangalore and Kolkata, as well as a network of field offices in 10 cities across the country.
“By capital investment in the local company, we will secure our research bases in eight cities in India, which will enable us for research and consulting services,” Shiro Tanikawa, director and corporate senior vice-president, commented on the deal.
The firm is also establishing an Indian subsidiary, Nomura Research Institute India Pvt Ltd, with a capital of Rs 41 crore, to develop the consulting business in the country.
“Interest in the Indian market is growing among many Japanese companies. NRI has been quite active in supporting Japanese and global companies’ entry into the Indian market and will provide them with much quicker and more elaborate research and consulting services through the new subsidiary,” said Tanikawa.
The Indian subsidiary will begin operation next month. Initially, it will have around 10 people on board but the number will rise to around 30 after five years. The Indian unit will prepare business strategies for Japanese companies in the automobile industry and also for those in other segments.
NRI is one of the largest Japanese consulting firms, with more than 600 professional consultants working in Japan and abroad. Almost 70 per cent of its clients are among the top 100 companies on the Tokyo Stock Exchange.
NRI is actively expanding its business in Asian and emerging countries and offers advice on policy matters to governments and international organisations. In addition, it helps with local business strategy and sales planning, organisation/personnel management and execution of alliance/acquisition strategies of private business entities in major Asian cities including Shanghai, Beijing, Taipei, Seoul, Manila and Moscow.