Word: hitachi
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Dates: during 1980-1989
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...months that ended Sept. 30, Toshiba's pretax profits plunged 80% from the same period in the previous year. At Fujitsu, Japan's top computermaker, profits fell 79%. Nihon Keizai Shimbun, Japan's leading business newspaper, last month reported that for the first time since 1975, Hitachi, Mitsubishi Electric and Fuji Electric planned temporary layoffs, shocking workers and managers in the industry. The companies denied the report, but rumors persist. Says Daisaku Kodama, an Osaka-based subcontractor for Matsushita Electric Industrial: "There have been other recessions. But this is the first time we have questioned our own survival...
Embittered manufacturers in the U.S. contend that Japanese makers have managed this coup by selling semiconductors at a loss, with the aim of pushing their U.S. competitors out of the market. The Japanese chipmakers tend to be diversified electronics giants (the big three: NEC, Hitachi and Toshiba) that can afford to lose money temporarily on semiconductors because they can rely on other revenue to tide them over. In contrast, U.S. chipmakers tend to be specialized, entrepreneurial companies that are more sensitive to profit slumps. An exception is IBM, the world's largest semiconductor maker, but the computer giant sells none...
...Heart." Like most major Japanese banking concerns, it belongs to a keiretsu, an industrial group made up of dozens of interconnected companies. The bank owns stock in the companies and extends them much of the credit they need. The Dai-Ichi Kangyo keiretsu includes such well-known firms as Hitachi, Isuzu and Kawasaki. As part of his duties, Hagura meets once a month with the heads of client companies to discuss, among other things, ways of increasing foreign business...
...problematic side too. The statute's civil portion allows companies and individuals to bring RICO lawsuits, and because it defines racketeering so broadly, all kinds of legitimate businesses and businessmen are using the law to bash each other around in court. IBM, for example, used the law to sue Hitachi for theft of confidential technology, and reportedly pocketed a settlement of $300 million. New York Yankees Owner George Steinbrenner aimed RICO against investment partners whom he charged with selling him their interests in a joint venture without informing him of all necessary facts. Dubious charges of racketeering are especially common...
Consumers who buy CDs tend to become fervent disciples. Senator Barry Goldwater, a jazz fan who bought a Hitachi model last year, demonstrates the durability of CDs to neophytes by tossing the disks across his Washington apartment. He is thinking about buying a CD player for his car. Musician Nile Rodgers, who has produced albums for singers David Bowie and Madonna, listens to the CD player in his Porsche as he commutes between Connecticut and New York City. Gerald Koris, a Los Angeles lawyer, has bought more than two dozen classical-music disks since becoming hooked last year. Says...