NEC
/ Toshiba Join Satellite Ventures
 NEC
Corp. and Toshiba Corp. plan to consolidate their aerospace
operations into a yet to be named joint venture by April 2001. The
venture will be capitalized at US$63.2  million
(¥7 billion) with NEC holding a 60% stake and Toshiba 40%. The
joint venture will have about 1,200 employees.
Their
combined market share in Japan's satellite sector would be 42
percent, second to Mitsubishi Electric's 55 percent. However, the
Japanese market is limited to around ¥200 billion to ¥300 billion
in coming years, with little growth expected. The venture will
therefore be seeking to expand sales into the international
satellite market, which is estimated to be valued at about ¥3
trillion to ¥4 trillion annually. 
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