“Japan is ready to transition from paper to digital”, said Remunera’s CEO Levy Cohen, “combined with the changes in the economy of Japan, we expect our new endeavor to be a big success”.
Remunera International S.A. is pleased to announce that on March 6th 2014, it signed an agreement to establish a company, with Jorudan Co Ltd. The new jointly owned company will be named “Remunera Jorudan Inc.” and based in Tokyo. The company will engage in designing plans and providing employee meal benefits services to corporations country-wide. Remunera advanced technology platform will serve as the base for building the network of restaurants/merchants and bringing in organizations with their employees. Remunera-Jorudan will offer various digital methods of payments in restaurants using magnetic/smart cards or mobile phones, while providing a huge value to corporations and restaurants by simplifying and improving upon the current paper voucher system now being used in Japan.
The labor force in Japan is estimated at 65.6 million people – 85% of which are in services. The potential market size for corporate meal services accounts for millions of employees translating into a significant multi billions US dollars market. Corporate meal services provided to employees will enable Japanese corporations to save money and at the same time increase employee disposable income and motivation. This is a significant financial incentive for Corporations to provide corp. meal service to employees who in turn can enjoy lunches in restaurants as part of employee benefits.
“We believe that integration of Remunera’s advanced technology platform and business know-how together with Jorudan’s restaurants network and existing customers will enable Remunera Jorudan to provide an innovative Corporate meal service and increase efficiency and flexibility in employee benefit systems throughout Japan,” said Remunera CEO Levy Cohen.
Remunera Jorudan Inc. is expected to commence operations in April 2014.
Remunera International SA (www.remunera.com) is a Luxemburg based subsidiary of 365 Technologies Ltd. Remunera SA is dedicated to build the global meal voucher brand of Remunera. 365 Technologies LTD is an Israeli based company and part of Hamashbir 365 Holdings Ltd., a publically traded company in TASE.
Remunera is a pioneer in the field of end to end digital solutions for employee meals that is being delivered by others mostly in a form of paper vouchers or pre-paid cards programs. Remunera’s mission is to improve corporates ability to manage and deploy their meal’s incentive plans for employees and to maximize tax benefits where it is applicable.
Remunera will leverage on global expansion opportunities such as the strong growth in Latin America and other emerging markets and targets the launch of at least one more new subsidiary in 2014.
More info at www.remunera.com.