Hitachi, Takeda Pharmaceutical to Establish Information System

JCNN News Summaries - Japan Corporate News Network, Oct 7, 2005 by Mayumi Saito

Tokyo, Oct 7, 2005 - (JCN) - Hitachi and Takeda Pharmaceutical jointly announced on October 3 that the two companies have basically agreed to establish a joint venture company for information system service as of September 29.

Accordingly, Takeda Pharmaceutical will outsource its information system function to the new company and receive cost-effective, high- quality service for 10 years. The new company, which will be operational as of April 1 2006, plans to develop information systems for the pharmaceutical industry.

Hitachi will hold a 66% stake in the new company and Takeda Pharmaceutical will retain the remaining 34%. The new company will become a wholly owned subsidiary of Hitachi after two years.