Japan's Transformer Company to Establish Joint Venture in ChinaTamura Corp., a maker of transformers for consumer electronics, has reached an agreement with China's Nanjing Panda Electronics Co. to set up a fifty-fifty venture late this month in Nanjing to produce and market electronics parts, the company said Monday.The new joint venture, Nanjing Panda Tamura Communications Power Supply Co., will have an authorized capital of 1.15 million U.S. dollars and a paid-in capital of 800,000 dollars, with a workforce of 100, Tamura said. Its operations will begin in June, initially producing power chargers for cellular phones with output in the first year of 2 million units, the company said. Later, the plant will make power source devices for communications equipment, computers and household appliances, it said. Tamura said it expects the joint venture to post a pretax profit of 30 million yen (244,898 US dollars) in the initial year, tripling to 90 million yen (734,694 dollars) in the second year. |
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