The following is an excerpt from IRG's TMT Weekly Market Review July 27 - Aug 2. IRG is a financial advisory and investment firm focused on the core growth sectors in Asia with particular focus on the telecommunications, media and technology (TMT) sectors. Japan- Kyocera Mita Corp. entered into a share purchase agreement with Chungho Comnet Co., Ltd. to acquire all outstanding shares of the two document equipment distribution subsidiaries of Chungho, Chungho O
Asys Co., Ltd. and Chungho Document Solution Co., Ltd. By acquiring these two companies as its own sales subsidiaries, Kyocera will be able to drastically enhance its sales activities in Korea which Kyocera has placed as one of its strategic countries in Asia and also strengthen its sales capabilities in Asia together with the Chinese and Indian markets. - Canon Inc. raised its group operating profit forecast by 10 billion yen (US$105.8 million). The upgrade is attributed in part to cost reductions, mainly in advertising and R&D, that are expected to result in 220 billion yen (US$2.3 billion) savings a year roughly 50 billion yen (US$528 million) more than its earlier target. With its office equipment business in the doldrums, however, overall sales are expected to drop 22 percent. The company plans to release next-generation copy machines in the second half of the year. But despite stepped-up marketing efforts in North America, a recovery in the copier business will take time as companies cut back on expenses, such as spending on color copies. - Sony Corp. posted a smaller-than-expected quarterly loss, helped by an improvement in its struggling flat TV business, and said it was aiming to beat its official forecast and at least break even for the full year. Sony has fallen behind Apple's iPod in portable music, Nintendo in videogames, and is struggling to compete with Samsung Electronics in LCD TVs. But the company, which competes with Panasonic for the position of the world's largest consumer electronics maker, said that losses on flat TVs had narrowed in the latest quarter, bringing the business close to the break even level. The maker of Bravia flat TVs and Vaio PCs kept its operating loss forecast of 110 billion yen (US$1.2 billion) for the year to March 31, 2010.
For further details as : http://www.itnewsonline.com/news/IRG-Technology,-Media-and-Telecoms-Weekly-Asia-Market-Review--/14557/8/2
Asys Co., Ltd. and Chungho Document Solution Co., Ltd. By acquiring these two companies as its own sales subsidiaries, Kyocera will be able to drastically enhance its sales activities in Korea which Kyocera has placed as one of its strategic countries in Asia and also strengthen its sales capabilities in Asia together with the Chinese and Indian markets. - Canon Inc. raised its group operating profit forecast by 10 billion yen (US$105.8 million). The upgrade is attributed in part to cost reductions, mainly in advertising and R&D, that are expected to result in 220 billion yen (US$2.3 billion) savings a year roughly 50 billion yen (US$528 million) more than its earlier target. With its office equipment business in the doldrums, however, overall sales are expected to drop 22 percent. The company plans to release next-generation copy machines in the second half of the year. But despite stepped-up marketing efforts in North America, a recovery in the copier business will take time as companies cut back on expenses, such as spending on color copies. - Sony Corp. posted a smaller-than-expected quarterly loss, helped by an improvement in its struggling flat TV business, and said it was aiming to beat its official forecast and at least break even for the full year. Sony has fallen behind Apple's iPod in portable music, Nintendo in videogames, and is struggling to compete with Samsung Electronics in LCD TVs. But the company, which competes with Panasonic for the position of the world's largest consumer electronics maker, said that losses on flat TVs had narrowed in the latest quarter, bringing the business close to the break even level. The maker of Bravia flat TVs and Vaio PCs kept its operating loss forecast of 110 billion yen (US$1.2 billion) for the year to March 31, 2010.For further details as : http://www.itnewsonline.com/news/IRG-Technology,-Media-and-Telecoms-Weekly-Asia-Market-Review--/14557/8/2
