is a Japanese systems integrator based in

Kasumigaseki Kasumigaseki (霞が関, 霞ヶ関 or 霞ケ関) is a district in Chiyoda, Tokyo, Chiyoda, Tokyo. Most government ministries are located in the neighbourhood, making its name a metonym for the Civil service of Japan, Japanese bureaucracy, while Nag ...

Chiyoda, Tokyo , known as Chiyoda City in English,
." ''City of Chiyoda''. Retrieved on December 28, 2008. is a S ...

. It is a publicly traded subsidiary of Itochu Corporation. CTC is a Japanese partner of numerous multinational IT vendors including

Avaya Avaya LLC(), formerly Avaya Inc., is an American multinational technology company headquartered in Morristown, New Jersey, that provides cloud communications and workstream collaboration services. The company's platform includes unified commun ...

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, EMC,

Hewlett-Packard The Hewlett-Packard Company, commonly shortened to Hewlett-Packard ( ) or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California ...

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, Symantec and VMware. The company has offices throughout Japan as well as in the United States, Singapore and Malaysia. The company abbreviation CTC is derived from the company philosophy, "Challenging Tomorrow's Changes". Thus, the company is called CTC, especially among computer businesses in Japan.

History

Itochu (then known as C. Itoh & Co.) set up CTC's predecessor Itochu Data Systems in the early 1970s to sell American computer equipment in Japan. Itochu middle manager Nobuo Hiroi was tapped to head the company and hired a number of outside employees such as Hiro Satake, a former Japan salesman for NCR. He also introduced a merit pay system, which was rare in Japan at the time. In 1983, CTC became a distributor for

Sun Microsystems Sun Microsystems, Inc., often known as Sun for short, was an American technology company that existed from 1982 to 2010 which developed and sold computers, computer components, software, and information technology services. Sun contributed sig ...

and helped to pioneer

workstation A workstation is a special computer designed for technical or computational science, scientific applications. Intended primarily to be used by a single user, they are commonly connected to a local area network and run multi-user operating syste ...

-based computing in Japan. Satake became president in 1994 and inked sales relationships with

and

. In the late 1990s, as Itochu reeled from losses from the

Japanese asset price bubble The was an economic bubble in Japan from 1986 to 1991 in which real estate and stock market prices were greatly inflated. In early 1992, this price bubble burst and the country's economy stagnated. The bubble was characterized by rapid acceler ...

, Itochu president Uichiro Niwa decided to float CTC on the stock market. CTC had its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

in December 1999, and its

market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

immediately exceeded that of its parent company, Itochu. One year later, CTC was valued at around $20 billion while Itochu was valued at only $8 billion.

References

External links

Official website
{{Authority control Companies listed on the Tokyo Stock Exchange Service companies based in Tokyo Telecommunications companies based in Tokyo Computer security companies Cloud computing providers Information technology consulting firms of Japan Japanese companies established in 1979 Itochu Telecommunications companies established in 1979