China's PacificNet (PACT.PK) has reached an agreement with Japan-based Bellsystem24 to set up a joint venture providing CRM consulting services in Shanghai.

Bellsystem24 is one of Japan's largest telemarketing, call center, and CRM service companies and has over 5,000 clients, 27,348 communication service representatives and 33 offices throughout Japan.

According to the terms of the agreement, a new joint venture company will be formed with PacificNet owning 40% equity stake and Bellsystem24 owning 60% of the new joint venture company to be named BELL-PACT Consulting Limited. The aggregate investments in this joint venture will be made in a phased manner and may reach USD$643,000. The joint venture will principally offer CRM call center consulting and training services, technical and business consulting services, network product sales, software development, system integration, as well as value-added services and other relevant services.

Yukio Sonoyama, President and CEO of Bellsystem24, said, "The Chinese market is expected to make further growth, and we do not have to stick only to any short-term goals. Thus, leveraging the chemistry of two companies, we would like to expand the markets in diverse sectors, especially telecommunications and finance that Bellsystem24 is good at, by setting mid-term and long-term goals."