Harel-Hertz is a partner in another successful deal between Israel and Japan
Harel-Hertz is partner to another successful deal between Israel and Japan:
Harel-Hertz and its partner in Japan, Pinnacle, laid the foundations and paved the way for the signing of the agreement between the Israeli customer 365 Technologies (of the Hamashbir 365 group) and the Japanese public company Jorudan Co. Ltd.
Harel-Hertz helped complete the negotiations for partnership between the companies, and gave special attention to assistance in cultural, business and language gaps.
The partnership will jointly establish a subsidiary company (SPC) in Japan, which will manage and implement catering budgets of company employees, serving outside restaurants or cafeterias in the companies' compounds. Under the terms of the agreement, shortly after the SPC is set up, 100 million yen (about NIS 3.5 million) will be invested in it, 50% from each side, and an owner loan will be provided by the Japanese partner only up to 100 million yen.
As part of the agreement, the Japanese partner undertook to provide the SPC with its existing connections with tens of thousands of restaurants and with hundreds of corporations in Japan, hundreds of thousands of whose workers will be gradually added to the project. In Japan, the tax benefit results in activity estimated at approximately $ 850 per employee per year in companies that provide this benefit. The parties are preparing to launch the SPC activity during the second quarter of 2014.
Harel-Hertz congratulates the management of 365 Technologies on the investment, determination and perseverance in completing the partnership and wishes her great success in the future.