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October 25, 2010

Hitachi and Toyo Denki forge international pact

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HITACHI and Toyo Denki Seizo today announced they will form a strategic alliance in electrical components for rolling stock to compete for international contracts. The two companies say they will cooperate in projects outside Japan and Europe by sharing systems integration work and supplying each other's products where appropriate.

As part of the agreement, Hitachi will acquire a 4.5% equity share in Toyo Denki Seizo, which will in turn purchase a 0.0046% stake in its larger partner.

Both companies produce traction systems, including converters and inverters, as well as auxiliary power supplies. Toyo Denki specialises in DC control and drive systems together with mechanical equipment such as pantographs and driving gear units, while Hitachi has experience in AC control and drive equipment for high-speed trains.

The two companies says they will also look into the possibility of joint product design and development.

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