Word: nissan
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Dates: during 1960-1969
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...many Japanese auto companies-14 in all-are struggling for a share of this market. Plagued by Japan's current recession and bothered by the threat of competition from foreign cars, the Japanese auto industry is finally beginning the consolidation that it has long resisted. Last week Nissan Motor Co., the country's second-ranking automaker, and Prince Motors, Ltd., its fourth-ranking, announced plans' to merge into what will become Japan's biggest auto manufacturer...
Government Matchmaker. The Nissan-Prince merger, to be completed next year, will join two companies whose combined monthly production of 49,000 autos accounts for 36% of Japan's total compared with the 32% of Toyota, the present leader. The deal is not only Japan's first major auto merger, but the first of what Nissan hopes will be a series of acquisitions along the lines of General Motors in its formative years...
Says Katsuji Kawamata, 60, Nissan's president: "I made up my mind strictly from the viewpoint of making our industry stronger in international competition." Far from frowning on bigness, the government served as the matchmaker, is encouraging other mergers...
...building a railroad in the backlands. In Honduras, Japan's Oki Electric Co. underbid such Western giants as A.T. & T. and Siemens to win the contract to build a new telephone system. Tokyo Shibaura Electric will soon install an educational television network in El Salvador, and Toyota and Nissan will start assembling cars in Venezuela by year...