HeartCore Announces the Establishment of HeartCore Luvina Vietnam Co., Ltd.

NEW YORK and TOKYO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading enterprise software and consulting services company based in Tokyo, announced the establishment of HeartCore Luvina Vietnam Co., Ltd. (“HeartCore Luvina Vietnam”), a joint venture with Luvina Software Joint Stock Company (“Luvina Software”), a Vietnam-based IT outsourcing and software development company.

Founded in 2004, Luvina Software is a top 10 IT Outsourcing Services company in Vietnam that specializes in the design, development, maintenance, and operation of IT products. For the past five years, Luvina Software has been a longstanding outsourcing partner in HeartCore’s CMS business, actively engaging in program development, testing, maintenance, and technical services, including collaborating on DAM projects and the overhaul of the UI/UX to enhance the functionality of the administration screens in HeartCore Version 12.

The establishment of HeartCore Luvina Vietnam is poised to catalyze synergies within HeartCore and its group companies to facilitate seamless sales generation. Luvina Software currently staffs 850 engineers and generates 100% of sales through contracts with Japanese corporations. Welcoming and integrating this proven team to HeartCore Luvina Vietnam presents an optimized pathway for an increase in sales and opportunities for business expansion beyond Japan as a low-cost, high-quality offshore technology provider for HeartCore’s global expansion initiatives. Furthermore, HeartCore’s demand and involvement as a subcontractor for website construction projects continues to grow, augmenting overall sales for the Company.

“I am pleased to announce our newly established joint venture company, HearrtCore Luvina Vietnam, which will significantly boost our efforts in expanding our global software business,” said HeartCore CEO Sumitaka Kanno Yamamoto. “Having worked closely with Luvina Software and its talented team over the past five years across various projects, we view this partnership as a critical next step in advancing and optimizing sales generation within our enterprise software business and group companies, specifically Sigmaways. The establishment of HeartCore Luvina Vietnam marks a pivotal move in our overarching global expansion efforts, presenting fresh avenues for growth abroad, particularly in the United States and Europe. We believe this strategic initiative will not only enhance our presence in key markets but also foster new opportunities for innovation and collaboration on an international scale.”

About HeartCore Enterprises, Inc.
Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading enterprise software and consulting services company. HeartCore offers Software as a Service (SaaS) solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platform (CXM Platform) includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. HeartCore’s GO IPOSM consulting services helps Japanese-based companies go public in the U.S. Additional information about the Company's products and services is available at https://heartcore-enterprises.com/.

Forward-Looking Statements
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HeartCore Investor Relations Contact:
Gateway Group, Inc.
Matt Glover and John Yi
HTCR@gateway-grp.com 
(949) 574-3860