FPT and SCSK to Form Joint Venture, Revolutionizing Japan's Legacy Systems and Talent Landscape [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
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Source: Yahoo! Finance
tech giant SCSK Corporation (SCSK) recently announced plans to establish a joint venture named COBOL PARK. This initiative aims to address the growing challenges of maintaining and modernizing legacy systems, particularly mainframe technologies, to support business resilience and agility and contribute to Japan's digital transformation agenda. The venture is part of a shared commitment to addressing the "2025 Digital Cliff"—an impending risk highlighted by Japan's Ministry of Economy, Trade and Industry (METI), on outdated and complex legacy systems that once served as the backbone of Japan's financial industry, among other sectors. Compounded by a scarcity of COBOL engineers and a rapidly ageing workforce, the modernization of these legacy technologies is crucial to business continuity and sustainability. COBOL PARK, scheduled for establishment by March 2025, aims to secure a robust talent pipeline and offer solutions for legacy system maintenance, mainframe migration, and modern
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