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| July 3, 2001 |
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| New Alliance to Advance Optical Recording Media |
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Hitachi Maxell, Ltd.
Mitsubishi Chemical Corporation
Mitsubishi Chemical Media Co., Ltd. |
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Three leading technology companies announced today that they have formed a strategic
alliance to develop the next generation of optical recording media.
Hitachi Maxell, Mitsubishi Chemical and Mitsubishi Chemical Media will cooperate
on research and development to bring superior optical recording media products
to an expanding and evolving global market, according to the companies.
The strategic alliance brings together the best technological and research capabilities
of the three companies. Playing to the strengths of the individual companies will
allow the venture to concentrate their research and development efforts, improve
efficiency and reduce costs.
Today's optical recording media market is expanding and strong future growth is
expected, according to the companies. Current generation products in this area
include recordable and rewritable compact discs and DVDs, as well as high-capacity
storage devices. It is anticipated that the next generation of high-capacity memory
media — known as "future optical recording media" — will replace current
technologies and become the products of choice for recording media manufacturers
and consumers alike.
The companies say they are confident that the alliance will further reinforce
their existing business foundations as well as develop their presence in the optical
recording media market. Specific areas of cooperation under the alliance include:
| 1. |
Selection of research priorities via cooperative research and
development in optical recording media; |
| 2. |
Acceleration of research efforts through joint research and
development |
Hitachi Maxell, Ltd. (Norio Akai, President) is headquartered in Shibuya-ku, Tokyo,
Mitsubishi Chemical Corporation (Kanji Shono, President) in Chiyoda-ku, Tokyo,
and Mitsubishi Chemical Media Co., Ltd. (Yoshimitsu Kobayashi, President) in Minato-ku,
Tokyo.
| For further information, please contact |
| Business Strategy Office, |
| Hitachi Maxell, Ltd. |
| Tel: [+81] 3-5467-9511 |
| Public Relations Dept., |
| Mitsubishi Chemical Corporation |
| Tel: [+81] 3-3283-6254 |
| CEO Office, |
| Mitsubishi Chemical Media Co., Ltd. |
| Tel: [+81] 3-5484-3925 |
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