STRUGGLING MITSUI HOME TO CONSOLIDATE MARKETING, SLASH COSTS.

AsiaPulse News, March, 2002

TOKYO, March 4 Asia Pulse - As part of restructuring efforts, Mitsui Home Co. (TSE:1868) Friday announced a plan to increase the ratio of marketing staff in Tokyo, Osaka and Nagoya to 80 per cent from the current 56 per cent by the end of March 2007, while scaling down its marketing areas.

The major home builder aims to reduce annual costs by 10 billion yen (US$75 million) in fiscal 2003 from the previous year, mainly by cutting material costs. It also aims to slash costs by 7 billion yen over the next two years by consolidating its clerical divisions and revamping its production information systems.

Mitsui Home will concentrate management resources on medium- and high-grade, order-made houses for its mainline single-family homes. It will also focus on...