HomeServe joint venture opens up Japanese market

Home repairs business HomeServe has invested an initial £2m into a Japanese joint venture with Mitsubishi Corporation.

The deal was signed earlier today in Tokyo and gives HomeServe a foothold in a market with 53m homes.

The joint venture will be called HomeServe Japan Corporation and will be 50:50 owned by Walsall-based HomeServe and Mitsubishi Corporation.

Barry Gibson, chairman of HomeServe, said: “Recent liberalisation of the gas and electricity markets, together with access to the water market for private concessions, has created a positive environment for HomeServe’s utility branded home assistance model.

“Our priorities are to put in place our start-up staff, work with MC to identify and sign our first affinity partnerships, and begin market testing.”

HomeServe Japan Corporation will build a business to provide home emergency and repair services in electrics, plumbing, gas, heating, ventilation and air conditioning.

The business will be based on a membership model, and will also offer on-demand services to residential customers.