E-market goes live

PUBLISHED : Saturday, 07 July, 2001, 12:00am
UPDATED : Saturday, 07 July, 2001, 12:00am

Even as the survival of many online marketplaces in Asia is in doubt, a new multimillion-dollar e-marketplace backed by several large Japanese utility companies went live yesterday.

Using technology from electronic supply-chain software provider SAP and business-to-business technology enabler CommerceOne, the new e-marketplace, called Japan e-Market, enables utility firms to buy and sell machine parts and materials, and office supplies online. Japan e-Market estimates that firms connected to the e-marketplace will procure US$3 billion in goods and services by the fifth year of operation, though the main benefit will be from cost-savings.

The investors include Toshiba, Hitachi, Mitsui, Nihon Unisys, Mitsubishi and power companies from across the country.