Formula Group Deepens Japan Connect After Relo Group Stake Deal, Hosts Business Community Meets Across India

New Delhi: Formula Group’s strategic partnership with Japan’s Relo Group Inc. has moved from boardroom agreement to market engagement, with the Indian corporate mobility and relocation services company reaching out to Japanese business and industry leaders across key Indian cities to explain how the alliance will strengthen its services in India and globally.

Following Relo Group’s acquisition of a significant minority stake in Formula Group earlier this year, the company organised a series of exclusive gatherings with the Japanese business community in Delhi, Mumbai and Bengaluru. The get-togethers were led by Formula Group’s top management and aimed at celebrating the partnership, sharing the broader vision behind the collaboration, and explaining how the company plans to serve Japanese corporations more effectively through the combined strengths of Formula Group and Relo Group.

The New Delhi gathering, held at Andaz Delhi by Hyatt, Aerocity, was attended by Takashi Ariyoshi, Minister and Deputy Chief of Mission at the Embassy of Japan in India. In Bengaluru, the event was attended by Nawata Hiroshi, Consul-General of Japan in Bengaluru, while in Mumbai, Ms. Makiko Hamauzu from the Consulate-General of Japan in Mumbai joined the interaction with the Japanese corporate community.

The outreach assumes importance as Japanese companies continue to expand and diversify their India operations, requiring more integrated support in areas such as employee relocation, destination services, immigration, corporate housing, fleet management, and global mobility solutions. The partnership with Relo Group is expected to give Formula Group a stronger international service backbone, especially for Japanese companies operating in India and Indian operations linked with global assignments.

Speaking to Asian Community News (ACN) Network, Raman Narula, Managing Director of Formula Group, said the partnership with Relo Group would significantly add to the company’s ability to serve clients better, not only within India but also across the world.

“We have been working at pan-India locations as well as different places abroad too for many years, but this partnership will add value to our strength as Relo Group’s presence across the globe is very strong,” Narula said.

He said the collaboration would allow Formula Group to offer more seamless support to companies managing cross-border employee movement. With Japanese corporations increasingly viewing India as a strategic business and manufacturing destination, the need for professional relocation, mobility, and employee settlement services has grown sharply.

Narula said Formula Group was entering a new growth phase after the Relo partnership.

“We are currently a ₹200-crore company and see the potential of reaching the ₹500-crore mark very soon, probably in the next four to five years,” he said.

On this occasion, Narula also walked down memory lane, recalling how Formula Group took shape from conversations that began on a golf course. He said the idea emerged after interactions with the wives of Japanese executives working in India, who openly shared the difficulties and concerns faced by the Japanese community during their initial years in the country. Their feedback highlighted several challenges related to settling down in India, including housing, local support, mobility, cultural adjustment and day-to-day assistance for expatriate families. These conversations helped Narula identify a major service gap in the corporate relocation space and eventually led to the creation of Formula Group. What began as an effort to understand and support the Japanese community gradually evolved into a professional relocation and mobility services company serving multinational clients across India and beyond.

Established in 2004, Formula Group has built a strong position in India’s corporate mobility and relocation management industry. The company provides integrated services for inbound and outbound employees, including global mobility programmes, relocation management, destination services, corporate housing, immigration support, fleet management and other employee-mobility solutions.

The company has been working with several multinational and Fortune 500 clients and has developed a service model that combines process expertise, technology and a human-centric approach to relocation. Its services are designed not merely to move employees from one location to another, but to help them and their families settle smoothly in new environments.

The partnership with Relo Group is being seen as a strategic step in Formula Group’s long-term expansion plan. Relo Group, established in 1967 and publicly listed in Japan, is known for its comprehensive outsourcing services in corporate fringe benefits and employee mobility. It is also recognised as Japan’s first global relocation company, supporting Japanese enterprises in their international expansion through services related to global consulting, overseas transfers, international assignments, business travel and integration support for foreign employees.

The alliance brings together Formula Group’s India market knowledge, operational depth and customer-focused service platform with Relo Group’s global experience, Japanese corporate network and international mobility capabilities. The transaction was supported by Grant Thornton Bharat as the exclusive financial advisor to Formula Group.

Commenting on the partnership earlier, Ankit Ahuja, Partner, Grant Thornton Bharat, had said the collaboration marked a significant milestone in the employee mobility segment.

“This strategic partnership marks a significant milestone in the employee mobility segment. The collaboration will further strengthen Formula Group’s leadership in relocation and integrated corporate mobility by leveraging Relo Group’s strong global footprint and deep expertise in the Japanese market. At the same time, Relo Group gains a significant boost in the rapidly growing Indian market through Formula Group’s established brand presence and proven operational excellence,” Ahuja said.

The series of events in Delhi, Mumbai and Bengaluru reflected Formula Group’s attempt to directly engage with Japanese companies, many of whom require dependable local partners to support their expatriate employees, Japanese executives, technical experts and families during their assignments in India.

For Japanese businesses, India remains a complex but high-potential market. Companies expanding into the country often face challenges related to housing, schooling, local documentation, immigration processes, cultural adjustment, mobility logistics and family support. Formula Group’s management conveyed during the gatherings that the partnership with Relo Group would enable the company to respond to these needs with greater depth, consistency and global coordination.

The alliance is also expected to help Relo Group expand its presence in India, a market that has become increasingly important for Japanese companies looking at manufacturing, infrastructure, technology, automotive, electronics, logistics and services opportunities.

With Japanese investment in India continuing to grow, the need for reliable relocation and mobility management has become more critical. Senior executives and skilled professionals moving between Japan, India and other global markets require structured support systems that can handle both professional and personal aspects of relocation.

Formula Group’s leadership believes the partnership with Relo Group will help it move beyond its existing India-focused strengths and build a more global service offering. The company is expected to use Relo Group’s international network to support Indian clients abroad, Japanese clients in India, and multinational corporations requiring cross-border mobility solutions.

The gatherings with the Japanese business community were therefore not merely celebratory events, but also part of a wider positioning exercise. Formula Group used the opportunity to communicate that it was preparing for a larger role in the global employee mobility ecosystem.

The presence of senior Japanese diplomatic representatives at the events also underlined the relevance of the partnership in the broader India-Japan business context. As Japanese companies continue to explore India as a major investment and operational base, service providers that can bridge cultural, administrative and mobility-related gaps are expected to play an increasingly important role.

For Formula Group, the Relo Group partnership marks a new chapter in its two-decade journey. From being an Indian relocation management company serving corporate clients across the country, it is now aiming to become a stronger international player in the corporate mobility space.

As Narula indicated, the company sees strong growth potential ahead. With a ₹200-crore current scale and an ambition to reach ₹500 crore in the next five years, Formula Group is betting on the rising demand for integrated mobility solutions and the strength of its Japanese partner’s global network.

The partnership has also given Formula Group a sharper Japan focus at a time when India-Japan business ties are expanding across sectors. By combining Indian execution capability with Japanese global mobility expertise, the company is positioning itself as a more comprehensive partner for corporations managing people, assignments and transitions across borders.