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Matsushita, Toshiba, Sony and Hitachi to Jointly Establish
New "e-Platform" Business Development Company to Promote Interactive Broadcasting and Datacasting Services in Japan
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Tokyo, Japan (October 23, 2000)-Four major electronics companies-Matsushita Electric Industrial Co., Ltd. (Panasonic), Toshiba Corporation, Sony Corporation and Hitachi, Ltd.-together announced today that they have agreed to establish the "ePF Network Corporation," a joint endeavor dedicated to standardizing the "e-Platform"-which will enable interactive broadcasting and storage-type datacasting services for Japan's digital TV broadcasting-as well as promoting new business and services using home set top box (STB) terminals based on the "e-Platform" standard. The new company will be established on November 15 with initial capital of 200 million yen. The above four major shareholders together will have a 70% share in the new venture, and will be joined by ten other participating companies*1, each holding a 3% share. As efforts progress, additional companies will be invited to participate to advance "e-Platform" businesses into the future. In addition to running its own business and services, the ePF Network Corporation will work on 1) standardizing "e-Platform"-compatible STB specifications, 2) outlining specifications for "e-Platform" service operations, and 3) developing and promoting new businesses and services. Chosaku Toda, a 35-year veteran of Matsushita's overseas marketing and TV business, will take the helm as president of the new corporation. Mr. Toda and five other executives from the four companies will form the executive board. Ownership of the four companies is 25% each for Matsushita and Toshiba, and 10% for Sony and Hitachi, respectively. The concept of the "e-Platform" was first proposed and announced in July this year by three companies: Matsushita, Toshiba, and Sony. Eleven other companies soon joined to form a consortium to work on its standardization. This consortium will dissolve as the new company take over its functions.
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WRITTEN BY Corporate Communications Division |