TradeCard Launches Japan Joint Venture; Mitsubishi, Mitsui and Warburg Pincus Establish International Financial Supply Chain Company in Japan.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 6, 2001 TradeCard Inc., the leading online financial supply chain services provider, today announced the launch of its TradeCard Japan K.K. operations that will service Japanese corporations who trade internationally. Mitsubishi Corporation Mitsubishi Corporation (三菱商事株式会社 , Mitsui & Co. Ltd., and Warburg Pincus Warburg Pincus is a private equity firm with offices in the United States, Europe and Asia. It has been a leading private equity investor since 1971. The firm currently has approximately $14 billion under management, and invests in a range of industries including information and will work with TradeCard to jointly manage the business development and customer service activities involved in providing a secure and cost-effective system for Japanese companies This is a list of companies from Japan. Note that 株式会社 can be (and frequently is) read both kabushiki kaisha and kabushiki gaisha (with or without a hyphen). See that article for more details. to initiate, negotiate and settle their cross-border trade transactions. The TradeCard financial supply chain platform, powered by its patented data compliance engine, provides a range of online financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. that manage the documentary and financial settlement issues inherent in international trade. Major corporations, such as RadioShack and Wolverine World Wide Wolverine World Wide NYSE: WWW is a footwear manufacturer. They have their own brand, Wolverine Boots and Shoes, and also make footwear for other companies, such as Caterpillar and Harley-Davidson. Wolverine also makes shoes and boots for the military. use TradeCard for their import transactions from partners in Asia. TradeCard has been conducting and settling transactions since November 1999 and currently has over 400 corporate users on the system. "Japan is the world's second largest economy and we are extremely pleased to commence operations there," says Kurt Cavano, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TradeCard. "With committed partners like Mitsubishi, Mitsui and Warburg Pincus, we have some of the largest trading companies and the most knowledgeable business leaders involved in TradeCard Japan's management. These are the key elements that a company needs for success in this market." The financial supply chain involves managing the flow of necessary data beginning with the purchase order all the way to payment. The TradeCard financial supply chain platform enables global traders to work collaboratively with integral trade service providers, such as logistics companies, inspection firms and financing institutions to reduce their process costs, exchange necessary data and complete their international transactions online. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a study by Cap Gemini Ernst & Young, companies can save 50 - 100 basis points of top line revenue by using TradeCard. "We have been a major supporter of TradeCard since February 1999 and have seen it grow both in product capability and market acceptance," says Cary Davis, a Warburg Pincus Managing Director. "We are delighted to see TradeCard expand its offerings to this important market. We look forward to being an active player in the TradeCard Japan joint venture along with such well-respected companies as Mitsubishi and Mitsui." TradeCard Japan is expected to be fully operational in September. The company will seek additional strategic alliances in order to expand the TradeCard network of service providers and add more value to the users of the system. In addition, TradeCard Japan will pursue inter-connectivity with TEDI's (Trade Electronic Data Interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. ), Trade EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. project in Japan, and Japanese customs clearance systems such as NACCS NACCS National Association for Chicana and Chicano Studies (USA) NACCS Naval Aircrew Candidate School (US Navy) (Nippon Automated Cargo Clearance System). About TradeCard TradeCard is a financial supply chain service provider. TradeCard's secure transaction infrastructure greatly reduces the inefficiencies and uncertainties found in traditional domestic and cross-border trade transaction processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management. TradeCard, Inc. is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Seattle, Chicago, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Taipei, Seoul and London. TradeCard can be found on the World Wide Web at http://www.tradecard.com. About Mitsubishi Corporation Mitsubishi Corporation is one of the world's most diverse enterprises. Generally classified as a trading company, Mitsubishi Corporation has decades of experience doing business around the world, experience that has made it more than just a leader in international trade. The company's extensive network and wide-ranging activities give it a decisive edge in gathering the timely, accurate market information vital to success. About Mitsui & Co. Mitsui Co., Ltd.. is Japan's largest sogo shosha Sogo shosha (総合商社 sōgō shōsha , or general trading company with total trading transactions of 13,048 billion yen for fiscal year ended March 31,2001. The Company has two principal roles: to facilitate its clients' international trade-related activities - making use of its substantial information, human, financial and logistics technology, and other resources- and to create new trade flows, new enterprises, and new industries over the world. Mitsui & Co., Ltd. is an international "business creator" offering value-added services to clients worldwide. We oversee a broad range of products, and have the knowledge and experience to best serve the ever-changing needs of the global marketplace. About Warburg Pincus Since 1971, Warburg Pincus has invested approximately $12 billion in 450 companies in 29 countries. The firm currently has $10 billion under management, with an additional $5 billion available for investment in a range of industries including: business services, communications, financial services, healthcare and life sciences, information technology, media and natural resources. Throughout its 30-year history in private equity, Warburg Pincus has invested at all stages of a company's life cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs. Warburg Pincus has 50 partners and 100 professionals in offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Menlo Park, London, Munich, Hong Kong, Singapore, Seoul, Tokyo, Mumbai and Sao Paulo. Warburg Pincus' sole business is private equity investing. The firm has an active portfolio of 175 companies. This press release contains a number of matters that constitute forward-looking statements. The presentation reflects the current views of TradeCard's management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. |
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