No Indian IT company has touched $100 million mark in Japan

Mahindra Satyam to regain earning levels of about $60 million (about Rs 336 crore) that it was making from the Japanese market before earthquake hit that country last year, a top official of Mahindra Group said today.

"Post earthquake, the situation has dramatically changed. There is a lot of pressure, and after the earthquake things virtually stopped for about six to eight months. No new business was coming," the official who does not want to be named, told PTI.

"Now this euro-zone crisis has started. It may take at least two years for us to get back to $60 million revenue figure," the official added.

The official said that revenues from Japan have gone down to $40 million (about Rs 225 crore) after the earthquake in March, 2011.

Mahindra Satyam, a part of Mahindra & Mahindra group, had reported revenues of Rs 6,395.56 crore for 2011-12 fiscal.

"No Indian IT company has ever touched $million- mark in Japan so far," the official claimed.

Mahindra Satyam has 100 employees in the country serving large customers. "Japan is different IT market... That is the reason we do not have much of employee strength there," the official said.

Nasscom President Som Mittal had earlier said that the earthquake and subsequent tsunami would have short-term impact on India's IT exports to Japan.

The total exports of the Indian IT-BPO industry to Japan with majority of operations are centred in and around the Tokyo and Osaka areas.

These cities are located far from the areas which were impacted by the earthquake and tsunami.

The Mahindra Official said though the situation in Japan is slowly improving, it will take some more time for the Japanese market to fully gear up to meet the total potential in terms of IT spending.