Toshiba, Funai form JV in RI

Toshiba, Funai form JV in RI

TOKYO (Dow Jones): Toshiba Corp. and Funai Electric Co. said
Thursday they will establish in March a joint venture in
Indonesia to manufacture color-picture tubes (CPTs) for
television sets.

The new company, provisionally called "Display Device
Indonesia", will be capitalized at $40 million.

In terms of shareholdings, including preferred stock, Funai
will hold a 65 percent stake in the joint venture, and Toshiba
will hold the remaining 35 percent. However, Toshiba will hold 51
percent of the voting rights at the new firm, and Funai will hold
49 percent, the firms said.

The new entity plans to begin manufacturing 20-inch CPTs in
January 2002. The plant will have a monthly production capacity
of 150,000 units.

All of the products will be supplied to Funai, the companies
said.

The joint venture will extend production to include 21-inch
flat CPTs some time in the future, Toshiba and Funai added.