Business Services Industry
Masco sold on Japan: sees 'opportunity' amid the nation's 'chaos.'
Crain's Detroit Business, February, 1998 by McCracken, Jeffrey
A devastated banking system. A plummeting stock market. A devalued currency. Japan's economy may not inspire confidence in most U.S. companies, but Masco Corp. (NYSE: MAS) still has faith. Taylor-based Masco has created Masco Japan Ltd. The venture has a five-person office in Tokyo, Masco's first office in Japan.
"Japan is at its trough economically, and we think out of chaos comes opportunity," said David Van Hise, Masco's vice president of international operations. "They are desperate for new ways to do business and are slowly allowing more U.S. products in." The new location will be a sales office for the manufacturer of home-improvement products, introducing Masco's faucets, cabinets and locks to the Japanese. Masco is aiming to get those products into home...
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