History
The age of information
WCresco, Ltd. was established in April 1988 in Minato-ku, Tokyo following a merger between microcomputer specialist Tectron Co., Ltd. and software development specialist Media Research Co., Ltd. The aim of establishing Cresco was to bring together technological capabilities in everything from microcomputers through to large-scale systems, to create a company that could contribute to and be successful in the 21st century age of information.
The Japanese economy at that time was extremely buoyant, to the point that the period subsequently became known simply as the bubble. Systems construction, meanwhile, was evolving from an on-site technician placement model to a systems integration model, in which customers received comprehensive systems planning, design, management, and maintenance services from a single provider. This trend was endorsed and supported by the then Ministry of International Trade and Industry (now METI, the Ministry of Economy, Trade & Industry).
Developing expertise
As our business grew over the years, we established a reputation for strong technical skills and project management capabilities. In our core competence of middleware we developed an excellent track record working with major domestic vendors on large-scale systems construction. At the same time, Cresco developed considerable expertise in emerging new areas as large-scale computer systems were replaced by new technology such as Workstations, which were in turn developed into the server-based network systems of today. Our involvement in embedded software began in the field of car audios, and in the mid 1990s we extended this to include mobile telephone, PHS, and other communications equipment. Now we are further developing this aspect of our business with new projects in wireless systems, digital appliances, and others areas.
Growing as a group
Cresco was initially capitalized at ¥98 million, and subsequent capital increases have raised this to ¥2.514 billion. In July 1997 Cresco listed on the Tokyo OTC Stock Exchange (now the JASDAQ). In September 2000 the Company was listed on the second section of the Tokyo Stock Exchange, shifting to the first section in September 2001.
Along with these developments, Cresco was actively expanding the scale and range of its operations as a group. In 1992 we invested in NIWS Co., Ltd., a new company established by IBM Japan, Nomura Research Institute and others that in June 2003 listed on the first section of the Tokyo Stock Exchange. The Cresco group of companies currently includes two consolidated subsidiaries,three affiliated companies, and nine other companies in which Cresco has an equity investment. The subsidiary, Cresco e-Solution Co., Ltd., was established in September 1998 to develop operations in ERP solutions. Wain Co., Ltd. was established in April 1999 as a subsidiary with the aim of growing offshore business, developing business in China, and pursuing other related opportunities. Following a capital increase on July 10, 2004, Wain Co., Ltd. has now become an equity method affiliate.
In September 2004, we invested in Open Source Japan, Ltd., which specializes in open source technology such as Linux and PHP, and Buerger Consulting Inc., which mainly provides consulting services on information systems. Furthermore, in December, we invested in Appresso K.K., the developers of “DataSpider”, a software package for linking data interactively. Among these invested companies, both Buerger Consulting Inc. and Appresso K.K. are our affiliates accounted for by the equity method. In October 2005, we founded Wireless Technologies, Inc., to develop hardware and software products employing short-range wireless technology, as well as sell imported products.
