Coupa Announces Strategic Partnership with Japan Cloud to Establish Coupa K.K.
Coupa Software (NASDAQ: COUP) has announced a strategic partnership with Japan Cloud to establish a joint venture called Coupa K.K. This venture aims to enhance Business Spend Management for Japanese companies, tapping into Japan's growing cloud technology market, which is expected to expand from US$8 billion in 2018 to US$18 billion by 2023. Led by Takashi Ozeki, Coupa K.K. aims to support local enterprises in improving efficiency and adaptability in a changing business landscape.
- Formation of Coupa K.K. to enhance Business Spend Management in Japan.
- Partnership aligns with the growing US$18 billion cloud technology market in Japan by 2023.
- Experienced leadership in Takashi Ozeki to drive local operations.
- None.
TOKYO and SAN MATEO, Calif., April 9, 2021 /PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business Spend Management, today announced a strategic partnership with Japan Cloud to establish a joint venture known as Coupa K.K. This joint venture will enable Coupa to scale to support the growing number of Japanese companies looking to gain greater efficiency and agility through Business Spend Management.
Coupa K.K. will be led by Takashi Ozeki who joins as general manager from Japan Cloud. Takashi brings more than twenty years of experience in enterprise software in Japan, holding positions at Marketo, Salesforce, Dell, and NEC Corporation.
"We are honored to already call some of Japan's leading companies such as Hitachi Transport, Sumisho Global Logistics, Mitsubishi Heavy Industries Group, and Nippon Express our customers, and we look forward to deepening our ties with the broader local business community in the months and years ahead," said Rob Bernshteyn, chairman and CEO of Coupa. "Coupa K.K. reaffirms our commitment to Japan and our desire to continue scaling our business around the world. I look forward to partnering with Japan Cloud and Takashi Ozeki to deliver even more meaningful value to Japanese companies through Business Spend Management."
The market for cloud technology transformation in Japan is growing. A recent study from Boston Consulting Group1 indicates that Japan is one of the largest public cloud markets in APAC, and is expected to develop further, from US
"Smart spend management is a must-have for Japanese companies as they adapt to a world of remote work and complex supplier relationships," said Aruna Basnayake, CEO of Japan Cloud. "Japan Cloud is thrilled to partner with Coupa to play an active role in scaling their Japan operations and making their comprehensive Business Spend Management platform the standard for Japanese companies."
"My vision has always been to help Japanese companies be at the forefront of digital transformation," said Takashi Ozeki, general manager of Coupa K.K. "With Coupa K.K., I look forward to helping the business community in Japan transform their supply chains and spend management practices to maximize the value of every dollar they spend."
Japan Cloud has a demonstrated track record of scaling U.S. enterprise software companies in the Japanese market, including Salesforce, Marketo, and most recently New Relic, BlackLine, WalkMe, nCino, and Braze.
Forward-Looking Statements
This press release contains "forward-looking" statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Coupa's presence in Japan, its establishment of a joint venture with Japan Cloud and the potential benefits and success of the joint venture, such as its ability to help organizations in the Japanese market. The achievement or success of the matters covered by such forward-looking statements are based on Coupa's current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause Coupa's actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect Coupa's financial and other results and the forward-looking statements in this press release is included in the filings we make with the SEC from time to time, including in Coupa's most recent Form 10-K, particularly under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Coupa assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
About Coupa
Coupa Software empowers companies around the world with the visibility and control they need to spend smarter and safer. To learn more about how Coupa can help you spend smarter, visit www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.
About Japan Cloud
Japan Cloud advises and provides hands-on support to world-class enterprise cloud companies entering Japan. By partnering with Japan Cloud, companies achieve faster time to market, operational excellence and customer success-driven growth. Learn more at japancloud.co.jp
1 Japan's Market Report, Boston Consulting Group Publication, 2019. https://www.bcg.com/publications/2019/economic-impact-public-cloud-apac/japan
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SOURCE Coupa Software
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