Tokyo, Mar 24, 2010 - (JCN Newswire) - On September 14, 2009, NEC Corporation (NEC; TSE: 6701), Casio Computer Co., Ltd. (Casio; TSE: 6952), and Hitachi, Ltd. (Hitachi; TSE: 6501/NYSE: HIT) announced an agreement to integrate and operate their respective mobile terminal businesses through the establishment of a joint venture company.
The three companies have scheduled business integration to begin on May 1, 2010, and today announced the conclusion of a corporate spin-off contract between NEC and NEC CASIO Mobile Communications, Ltd. as well as a merger agreement between NEC CASIO Mobile Communications, Ltd. and Casio Hitachi Mobile Communications Co., Ltd. (CHMC).
Review by competition authorities in certain countries is currently taking place and is expected to be complete without impacting the timing of the merger significantly.
NEC CASIO Mobile Communications, Ltd. will completely integrate NEC's Mobile Terminal Operations Unit with CHMC, including its sales, development, manufacturing and maintenance strengths, in order to capitalize on both companies' technological development and product planning synergies and to produce an alluring lineup of innovative new products.
For details of Casio Hitachi Mobile Communications, please visit http://www.nec.co.jp/press/en/1003/2403.html.
About Casio Hitachi Mobile Communications Co., Ltd.
Casio Hitachi Mobile Communications Co., Ltd. was established on April 1, 2004 in a joint venture between Casio Computer Co., Ltd., and Hitachi, Ltd. The company brings together the many highly competitive technological assets possessed by Casio and Hitachi to provide customers with highly innovative and reliable mobile phone products packed with cutting-edge technologies. Since the merger, the firm's operations have been streamlined and integrated for maximum focus on its core competencies, faster and more efficient development, and a robust production system. Today, Casio Hitachi Mobile Communications provides innovative mobile devices for four major wireless providers in Japan, South Korea and U.S.A. For more information, go to http://ch-mobile.com/.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 400,000 employees worldwide. Fiscal 2008 (ended March 31, 2009) consolidated revenues totaled 10,000 billion yen ($102.0 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials, logistics and financial services. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
Casio Computer Co., Ltd. is one of the world's leading manufacturers of consumer electronics products and business equipment solutions. Since its establishment in 1957, Casio has strived to realize its corporate creed of "creativity and contribution" through the introduction of innovative and imaginative products. Today, Casio's offerings include timepieces, digital cameras, cellular phones, electronic dictionaries, calculators, musical instruments, system equipment, and electronic components such as LCDs. The Casio Group employs more than 12,000 people worldwide, shipping over 100 million products per year, with net sales of 518 billion yen (approx US$5,286 million) in the fiscal year ended March 2009. News and product information from Casio is available at http://world.casio.com/.
About NEC Corporation
NEC Corporation (TSE: 6701) is one of the world's leading providers of Internet, broadband network and enterprise business solutions dedicated to meeting the specialized needs of a diversified global base of customers. NEC delivers tailored solutions in the key fields of computer, networking and electron devices, by integrating its technical strengths in IT and Networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. The NEC Group employs more than 150,000 people worldwide. For additional information, please visit the NEC website at: http://www.nec.com.
NEC Corporation Kosuke Yamauchi +81-3-3798-6511 E-Mail: email@example.com Casio Computer Co., Ltd. Shinobu Kurahashi +81-3-5334-4830 E-Mail: firstname.lastname@example.org Hitachi, Ltd. Atsushi Konno +81-3-5208-9325 E-Mail: PR@hdq.hitachi.co.jp
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