GlobalNetXchange (GNX) has announced the launch of a new subsidiary as it looks to meet the online needs of the Japanese retail market.

GNX, which has already big named partners around the world, including Pinault-Printemps-Redou and Coles Myer, has joined up MYCAL Corporation and The Daiei Inc to form GlobalNetXchange-Japan.

The company is hoping that through GNX-Japan it will be able to use the Internet to solve inefficiencies in the supply chain for retailers, wholesalers and suppliers in the Japanese retail market.

"We have been discussing the opportunity to bring our supply chain solutions to the Japanese retail industry for several months. Our research to understand the unique needs of the Japanese market indicated that a subsidiary with Japanese partners was the best approach," said Joe Laughlin, chief executive officer GlobalNetXchange.

"GlobalNetXchange-Japan, formed with two outstanding Japanese retail partners, MYCAL and Daiei, will enable us to adapt our solutions to the requirements of the Japanese retail industry," he continued.

GNX-Japan is planning to add an extra five partners to the scheme and will be opening its services to all retailers, wholesalers and suppliers to the Japanese retail market.

About GlobalNetXchange
GlobalNetXchange is a global business-to-business retail online marketplace open to all retailers and suppliers. Powered by Oracle Exchange, Oracle's online e-business marketplace, GNX utilises the Internet to connect trading partners across extended retail supply chains and to integrate supply with consumer demand.