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Press Release
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March. 15, 2004
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To Whom It May Concern:
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Funai Electric Co., Ltd.
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Representative: Tetsuro Funai, President and CEO
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(Code No. : 6839 1st section of TSE/OSE)
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Inquires: Mutsuo Takei, General Manager
Investor/Public Relations Department
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(Tel: 81-72-870-4395)
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Funai and Mitsubishi Electric Form Alliance for DVD Recorder
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Funai Electric Co., Ltd
(the President:Tetsuro Funai) forms alliance with Mitsubishi Electric Corp. (the
President:Tamotsu Nomakuchi) to enter DVD (Digital Versatile Disc) recorder market.
Funai and Mitsubishi Electric established DIGITEC INDUSTRIAL LIMITED (Headquarters: Hong Kong) for DVD player development, manufacture and sale through joint capital investment in 1999 by forming alliance and since then the business has been steadily growing. This time, both companies have agreed to add DVD recorder to this alliance with the relationship.
Specifically speaking, DIGITEC will supply DVD recorder for both companies as DVD player while making use of both engineering resources. Funai plans to launch single DVD recorder targeted for this spring and subsequently DVD recorder/VHS VCR combination model, furthermore with hard disc combination in view. Funai firstly plans to sell in the U.S. of the main market and roll out them to other areas successively.
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