Vietnam-based information technology (IT) services provider FPT, through its subsidiary in Japan, and the Japanese tech firm SCSK Corporation (SCSK), have announced the establishment of a joint venture named COBOL PARK Co., Ltd. (COBOL PARK), to address legacy system challenges.

FPT said in a statement on Thursday that this entity is dedicated to supporting organizations, especially financial institutions, that rely on mainframes and COBOL-based legacy systems, enabling business resilience and driving digital transformation.

COBOL PARK officially commences operations in October 2025, with SCSK holding a 66.7 percent share and FPT holding 33.3 percent.

The joint venture is part of a broader commitment to addressing the “2025 Digital Cliff” – an impending risk identified by Japan’s Ministry of Economy, Trade and Industry (METI) on the urgent need to maintain and modernize legacy systems, particularly mainframes.

Built with legacy technologies such as COBOL, mainframes remain the backbone of financial institutions thanks to their high processing power and reliability, yet they face growing risks due to the scarcity of COBOL-trained engineers and an aging workforce.

COBOL PARK aims to serve clients in Japan’s estimated 500-billion-yen financial industry by providing human resources and strategies to maintain existing systems for business continuity, while offering clear roadmaps for future modernization and migration.

COBOL PARK builds on a successful partnership between FPT and SCSK in IT services for the Asia Pacific region since 2018.

It combines SCSK’s over 50 years of experience delivering systems to diverse industries in Japan and FPT’s technological expertise, global presence, and large pool of young, highly skilled IT workforce.

FPT will also leverage its strong capabilities in artificial intelligence (AI), providing AI-powered solutions for mainframe modernization, maximizing efficiency, and optimizing long-term outcomes for clients.

“FPT and SCSK are at the forefront of application management, infrastructure services, and especially legacy modernization. With COBOL PARK, we are bridging the past, the present, and the future by maintaining legacy systems, supporting current operations, and enabling future innovations,

“By embedding AI into everything we do, our joint venture can deliver a smarter, future-ready approach to modernization and bring lasting values to our customers”, said FPT Chairman Dr. Truong Gia Binh.

Meanwhile, SCSK Representative Director, Executive Officer, President Takaaki Toma, said legacy systems that have been maintained for a long time by Japanese companies have become a burden on business continuity due to rising maintenance costs and increased security risks.

Furthermore, the ageing of maintenance personnel and the resulting shortage of IT talent pose a societal challenge, hindering system renewal and advancement.

According to him, the SCSK Group has established COBOL PARK Inc. in collaboration with FPT to provide options for business continuity and exit strategies.

“Through this initiative, we aim to accelerate the modernization of IT systems in Japanese companies, including maintenance and improvement, and promote their advancement and optimization,

“Looking ahead, we will continue to leverage our group’s comprehensive strengths to enhance competitiveness and corporate value,” he added.

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