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Mitsubishi, Toshiba Form Joint Venture Business
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Mitsubishi Electric Corp and Toshiba Corp have recently announced that they will integrate their power transmission and distribution businesses in a joint venture company to be incorporated in April 2002, which will start business on October 1, 2002.
The new joint venture will bring together the sales, engineering, development and manufacturing functions of the parent companies for Japan's largest company dedicated to power transmission and distribution. The scale and business volume of the combined operation will match those of the world's top three companies in the business, and allow the new company to implement an operating structure that leads a global presence.
The announcement by Mitsubishi Electric and Toshiba reflects the tough realities of the transmission and distribution industry. In Japan, reduced investment by power utility companies has eroded the market. Overseas, demand remains stable, but competition is fierce against industry leaders.
Mitsubishi Electric and Toshiba's first response to these market conditions was an October 2000 comprehensive agreement aimed at enhancing product development and productivity. The latest announcement reinforces and extends this collaboration, and is expected to promote the two companies' fundamental competitiveness in the transmission and distribution business.
(April 2002 Issue, Nikkei Electronics Asia)
The new joint venture will bring together the sales, engineering, development and manufacturing functions of the parent companies for Japan's largest company dedicated to power transmission and distribution. The scale and business volume of the combined operation will match those of the world's top three companies in the business, and allow the new company to implement an operating structure that leads a global presence.
The announcement by Mitsubishi Electric and Toshiba reflects the tough realities of the transmission and distribution industry. In Japan, reduced investment by power utility companies has eroded the market. Overseas, demand remains stable, but competition is fierce against industry leaders.
Mitsubishi Electric and Toshiba's first response to these market conditions was an October 2000 comprehensive agreement aimed at enhancing product development and productivity. The latest announcement reinforces and extends this collaboration, and is expected to promote the two companies' fundamental competitiveness in the transmission and distribution business.
(April 2002 Issue, Nikkei Electronics Asia)
