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NEC to sell plasma-display unit to Pioneer

TOKYO, Japan - NEC Corp. President Akinobu Kanasugi (L) and Pioneer Corp. President Kaneo Ito shake hands at a news conference at a Tokyo hotel on Feb. 3. They said Pioneer will acquire in fiscal 2004 all outstanding shares in NEC Plasma Display Corp., a producer of plasma-display panels wholly owned by NEC. At present, Pioneer and NEC both have about 10% of the global plasma-display market.

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NEC to sell plasma-display unit to Pioneer

TOKYO, Japan - NEC Corp. President Akinobu Kanasugi (L) and Pioneer Corp. President Kaneo Ito shake hands at a news conference at a Tokyo hotel on Feb. 3. They said Pioneer will acquire in fiscal 2004 all outstanding shares in NEC Plasma Display Corp., a producer of plasma-display panels wholly owned by NEC. At present, Pioneer and NEC both have about 10% of the global plasma-display market. (Kyodo)

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Sanwa, Tokai, Asahi banks to form banking group

TOKYO, Japan - Sanwa Bank, Tokai Bank and Asahi Bank announce March 14 they will set up a joint holding company in April 2001 to form Japan's 2nd largest banking group. Photo shows the three banks' presidents -- (from L to R) Kaneo Muromachi of Sanwa Bank, Tatsuro Ito of Asahi Bank and Hideo Ogasawara of Tokai Bank -- after making the announcement at a Tokyo hotel.