Establishment of Joint Venture Company on Space Business|
2 April, 2001
Tokyo -- NEC Corporation and Toshiba Corporation today announced the incorporation of NEC TOSHIBA Space Systems, Ltd., a joint venture company for space-related business. The new company will be headed by Mr. Hiromi Hayashi, formerly a senior vice president of NEC Corporation.
NEC and Toshiba announced an agreement to unify their space-related business operations in December last year. They have subsequently agreed to transfer their space operations to the new company in the coming six months, ready for it to start operation in October 2001.
The unified business will enjoy increased resources and offer superior space related systems and cost competitiveness. NEC TOSHIBA Space Systems, Ltd. will enjoy a reinforced position in the domestic business and will adopt a proactive approach to overseas markets. In addition to satellite subsystems and components, such as transponders, sensors, solar array panels and large deployable reflectors, the company will strongly promote its capabilities in the design and system integration of satellite systems.
Outline of Joint Venture Company
Corporate Communication Division, NEC Corporation
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