Word: hitachis
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This policy has attracted such foreign-owned giants as Vöest, an Austrian combine that is expected to turn out $1.1 million worth of steel annually on Taiwan, and a slew of electronics firms: Sony, Hitachi, RCA, Motorola, Zenith, Admiral. Taiwan is now the chief supplier of black-and-white TV sets to the U.S. Ford Motor Co. has embarked on a $36.3 million venture with Lio Ho, a Taiwanese firm, to produce several small economy cars, selling at around $1,600, for the Asian market. The island also produces Sanyang motorcycles. Taiwan lately has switched to seeking capital...
...greenbacks by exporting consumer goods to the U.S., and are eager to put their treasure to work. Sony Corp. is investing $15 million in a color-TV assembly plant in San Diego that is expected to be turning out 240,000 sets annually by year's end. A Hitachi subsidiary began producing magnets in March at a $2,000,000 plant in Edmore, Mich., that it owns jointly with General Electric. Mitsubishi, whose San Angelo, Tex., subsidiary plant has been turning out executive jets since 1967, recently acquired a factory in Moonachie, N.J., to make synthetic leather. The Tokyo...
Additional competition is coming from Japan. More than two dozen Japanese firms, including Canon, Sony, Hitachi and Panasonic, have started producing and exporting the small calculators. Following the strategy that they used so successfully with transistor radios, the Japanese are trying to corner the market by lowering prices and accepting razor-thin profits on high volume. But for once, American producers seem able to stand on their own feet. U.S.-produced calculators are made on almost totally automated assembly lines, thus eliminating Japan's advantage of cheaper labor...
That competition will become even sharper in the decade ahead. The Common Market is expected to be expanded from six nations to ten on Jan. 1. And Continental businessmen are watching with concern the emergence of a "Japanese challenge," as names like Toyota, Sony and Hitachi rise across Europe. Everywhere the conviction is growing that companies with conservative, nationalistic managements will be left behind in Europe's competitive leap forward-and that firms with impatient, internationally minded young executives will command the future...
...Morgan Stanley & Co. to build new communities in the U.S. The first will probably be a 1,000-home, $30 million development near Williamsburg, Va. Several states have sent delegations to Tokyo seeking more investment. Governor Linwood Holton of Virginia visited recently and conferred with Kenichiro Komai, chairman of Hitachi, and Iwao Iwanaga, chairman of Mitsui Petrochemical, among others...