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ACN Newswire press release news - Recent Press Releases

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    HONG KONG, Dec 19, 2017 - (ACN Newswire) - On December 19 2017, China Oceanwide International Financial Limited ("Oceanwide Financial", stock code: 952.HK) is pleased to announce to raise approximately HK$18.25 billion by way of a rights issue on 3 for 8 basis. Last day of dealings in nil-paid Rights Shares is expected to be 15 February 2018, before Chinese New Year.

    In accordance with our company's strategic development, 40% of the funds raised is designated to support and expand our group's securities business including brokerage and margin financing, asset management, wealth management and insurance brokerage; 20% is to expand the structured finance business, institutional sales and capital markets capabilities; 10% is planned to develop the proprietary trading business, such as investments and trading in equities and fixed-income securities and assets as well as derivatives; 30% is planned to strategic acquisition/establishment of investment banking assets in different geographical areas with an initial focus on South East Asia as well as for complementary non-bank financial businesses and for the usage as general working capital. The use of proceeds may be adjusted based on the development of our group's business.

    Oceanwide Financial, as a financial platform that based in Hong Kong and serving the world, has considerable strength in brokerage, loans, corporate finance, asset management, financial media and investment business. The substantial increase in capital will enhance our relative competitiveness. And we expect all areas of our businesses to develop and we will continue to promote the welfare of our shareholders. Our goal is to become a leading international financial platform in the industry.

    For further enquiries, please contact:
    Oceanwide Financial IR
    Ms: Rosa Yan
    Tel: (852) 2847 2201
    Email: rosa.yan@oceanwidefinancial.com



    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    - Offering stronger disaster prevention measures with accurate grasp of earthquake observation data -

    TOKYO, Dec 19, 2017 - (JCN Newswire) - NEC Corporation (TSE: 6701) today announced the supply of a wide-area disaster prevention system to the Meteorological, Climatological and Geophysical Agency of the Republic of Indonesia (Indonesia). A grant aid from the Japanese government program for improving equipment for disaster risk management will be used for this system, which is scheduled to commence operation in the first half of 2018.

    Indonesia is a country with an extremely high risk of earthquakes, as seen by the significant damage caused by the Great Sumatra Earthquake in December 2004. Forecast and warning systems for earthquakes and tsunamis have already been established and operated, but there is demand to improve the accuracy of epicenter analysis and magnitude estimation.

    This wide-area disaster prevention system will gather seismic intensity and waveform information obtained from seismometers newly installed at 93 sites across Indonesia. The data will be provided to a server at the headquarters of the Meteorological, Climatological and Geophysical Agency in Jakarta on a real-time basis via a satellite-based communication system (VSAT).

    The operation will enable the Meteorological, Climatological and Geophysical Agency to monitor seismic activity constantly and improve the accuracy of epicenter analysis and magnitude estimation.

    "NEC's system will contribute to efforts in Indonesia to reduce damage caused by disasters and increase the capacity to cope with them by quickly and accurately grasping and sharing seismological observation data," said Minoru Hirata, General Manager, Smart Infrastructure Division, NEC Corporation. "Moreover, NEC aims to reinforce these efforts by proposing systems that are capable of detecting earthquakes and providing early warnings about related tremors, as well as systems that detect tsunami waves."

    About NEC Corporation

    NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.

    Based on its Mid-term Management Plan 2015, the NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, please visit http://www.nec.com/en/global/about/solutionsforsociety/message.html.

    Contact:
    NEC Seiichiro Toda s-toda@cj.jp.nec.com +81-3-3798-6511

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Toyota City, Japan, Dec 19, 2017 - (JCN Newswire) - TOYOTA GAZOO Racing will compete in the 2018-19 FIA World Endurance Championship (WEC) season after reaffirming its commitment to the development of hybrid powertrain technology through motorsport.

    Following the publication of the LMP1 regulations for next season, which Toyota has played an active part in defining, the team can commit to enter its TS050 HYBRID race cars for at least the 2018-19 season.

    The WEC project has contributed to Toyota's global target of making ever-better cars, particularly in the development of hybrid powertrains which has benefited from regulations which give manufacturers the freedom to innovate.

    For example, the fundamental technology behind a 35% fuel consumption improvement since 2012 for Toyota LMP1 cars is contributing to the continuous improvement of Toyota road cars.

    As well as technology, the WEC project has also contributed to Toyota's ever-better cars target by enhancing the knowledge and experience of road car powertrain engineers. Since the project began road car engineers have been seconded to the WEC team to learn new processes and working methods in a high-pressure environment.

    TOYOTA GAZOO Racing will provide more details of its 2018-19 plans, including its driver line-up, early next year.

    Akio Toyoda, President, TOYOTA Motor Corporation:
    "More than 100 years have passed since the birth of the automobile. As we approach times of tremendous change represented by electrification, automation and other developments, I am strongly determined to make sure that cars will be fun for the next 100 years.

    Since 2012, we have taken up the challenge of the FIA World Endurance Championship, including the Le Mans 24 Hours, with race cars equipped with hybrid technologies.

    Of course, we have always approached this challenge with a desire to drive faster than any other car and to win. Yet our cars carried our desire for more than just that.

    Not only did we want to heighten environmental performance in terms of fuel efficiency and such, we also had a very strong desire to create hybrid cars that made drivers feel that driving is fun, and that made them want to keep at it and want to let the cars keep on going.

    This year, I went to Le Mans for the first time and heard people cheering for Toyota. I also heard many people saying that they would like to see Toyota come out with a hybrid sports car like our cars in the race.

    I, too, would like us to produce just such a car, and I think it would be one that would help make cars fun for the next 100 years.

    This year, our cars were extremely fast on the roads of Le Mans. But they were not able to combine speed with the strength needed to keep at it for 24 hours. While wanting to provide cars that our customers will want to ride in and drive, I keenly realized that we have a long way to go.

    It is highly regrettable that our rival in honing technologies on the roads of Le Mans has left. Yet the World Endurance Championship, in which cars of different categories race at the same time, and particularly Le Mans, where the battle goes on for 24 hours, including on public roads, still represent the optimal proving ground for achieving the goal of making cars fun for the next 100 years.

    The ever-better cars that Toyota pursues are honed and created via the extreme environment of motorsport. That is exactly why we will persistently engage in motorsport, without being swayed by the good and bad of economic times.

    TOYOTA GAZOO Racing will continue to race in this competition again next season. And, from here on as well, so that we will be able to provide our customers with cars that are fun to drive and cars that they want to let keep on going, we will continue to build on our skills and technology gained thus far. We would be happy to receive everyone's continued support. Thank you very much."

    About Toyota

    Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

    Contact:
    Toyota Motor Corporation Public Affairs Division Global Communications Department Tel: +81-3-3817-9926

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Hong Kong and Singapore, Dec 20, 2017 - (ACN Newswire) - mybitwallet users are now able to conduct instant deposits and withdrawals whenever they want, wherever they wish to. The release of this feature allows bitcoin users to conveniently deposit and withdraw with bitcoin instantly. mybitwallet hopes the release of this feature will increase the numbers of bitcoin enthusiast joining the platform.

    With that, mybitwallet promises to keep transaction fees for this feature minimal for its users to conduct bitcoin deposits and withdrawals. The transaction process of this feature is designed to ensure users are able to transact easily at their own fingertips.

    How mybitwallet users deposit and withdraw in bitcoin -

    Deposit:
    1. Select a currency available on the mybitwallet platform to deposit.
    2. Enter the quantity of bitcoin you wish to deposit.
    3. Complete the transaction by making payment to the bitcoin address shown on the payment page. Alternatively, you may scan the QR code shown on the display screen.
    4. Submit deposit request.

    Withdrawal:
    1. Select one of the currencies available on the mybitwallet platform to withdraw.
    2. Enter the Bitcoin address.
    3. Enter the amount to withdraw.
    4. Submit withdrawal request.


    About mybitwallet -

    mybitwallet, a leading Wallet payment solution, aims to provide the world's best multi-currency, real-time payment experience for all mybitwallet users - and the world's best payment solution experience across all industries.

    Introduced in 2016, mybitwallet is driven by a team of passionate disruptors determined to create a seamless payment platform not only for business owners and merchants around the world - but their clients as well.

    mybitwallet by E PROTECTIONS PTE LTD (SG 2012).
    Visit mybitwallet at https://mybitwallet.com.


    Contact mybitwallet -

    Jasmine Chang
    T: +65 6221 0111
    E: jasminechang@epro.sg

    Japan Customer Service
    T: +81 3 6893 0958
    E: info@mybitwallet.com


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    HONG KONG, Dec 20, 2017 - (ACN Newswire) - China Oceanwide International Financial Ltd ("Oceanwide Financial", HKG:0952) is pleased to announce raising approximately HK$18.25 billion through a Rights Issue, with 8 Rights Shares for each 3 issued shares, at the close of market today, December 19th, the Date of Record. The Final Day for nil-paid Rights Shares is February 15th, 2018, before Chinese New Year.

    In accordance with the Company's strategies, 40% of the funds are to support and expand the Group's securities businesses, including brokerage and margin financing, asset management, wealth management and insurance brokerage; 20% used to expand our structured finance business, institutional sales and capital markets capabilities; 10% planned for developing the proprietary trading business, such as investments and trading in equities and fixed-income securities and assets as well as derivatives; and 30% for strategic acquisition or establishment of investment banking assets in different geographical areas, with an initial focus on SouthEast Asia, and complementary non-bank financial businesses, and for general working capital. The use of proceeds may be alter based on the Group's future business.

    Oceanwide Financial, as a financial platform based in Hong Kong and serving the world, has considerable strength in brokerage, loans, corporate finance, asset management, financial media and investment businesses. The substantial increase in capital will enhance our relative competitiveness. And as we expect all areas of our businesses to develop, we will continue to promote the welfare of our shareholders. Our goal is becoming an industry-leading international financial platform.

    Ms: Rosa Yan
    Oceanwide Financial IR
    T: +852 2847 2201
    E: rosa.yan@oceanwidefinancial.com

    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    - Focus on Smart Grid Power Control Engineering -

    TOKYO, Dec 20, 2017 - (JCN Newswire) - Mitsubishi Heavy Industries Thermal Systems Co., Ltd. (MHI Thermal Systems) has become the first partner in a new scheme by Gifu University to initiate joint research in partnership with the industrial sector. The university concluded an agreement with MHI which will focus on joint-research into smart grid power control engineering.

    Background to the New Program The latest program was established in April 2017. It has been developed to ensure that research and instruction is maintained on an ongoing basis, and that courses for specific areas of engineering and manufacturing are established. Under the new scheme, research topics are selected that match the businesses providing course funding, and ownership of any resulting intellectual property is made available to the sources of the endowment.

    Future Smart Grid Research With the increased adoption of solar and other natural energy sources in the years ahead, there is concern about the difficulty of maintaining an instantaneous supply/demand balance in power networks. In addition to solutions such as the use of storage batteries, new technologies are expected to help maintain the balance in the smart grids of the future by means of power control systems that cover users spread across a wide area.

    One promising candidate, from the perspective of power consumption volume and operating flexibility, is air-conditioning in large office buildings. The key futureoriented technology here is precision control of the power consumption of an enormous number of airconditioning units installed across a wide area, while ensuring constant comfort.

    Objectives of the Joint Research Study Course MHI Thermal Systems has a long history in multi-system air-conditioning technologies for office buildings, while Gifu University's Next-Generation Energy Research Center has a strong track record in researching smart grids and air-conditioning power demand. In preparation for the coming era of smart grids, the two partners will collaborate in developing technologies for achieving air-conditioning power control optimal for both networks and users.

    By integrating the open ideas fostered within the university and the practical experience of a leading manufacturer, the two partners will aim for a collaborative system capable of bridging the gap between research and application. A further objective of the new course program will be to educate graduate students--including doctoral candidates and foreign students in doctoral programs--to ensure that tomorrow's engineers are thoroughly well versed in airconditioning systems and smart grids.

    About Mitsubishi Heavy Industries, Ltd.

    Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, is one of the world's leading industrial firms with 80,000 group employees and annual consolidated revenues of around 38 billion U.S. dollars. For more than 130 years, the company has channeled big thinking into innovative and integrated solutions that move the world forward. MHI owns a unique business portfolio covering land, sea, sky and even space. MHI delivers innovative and integrated solutions across a wide range of industries from commercial aviation and transportation to power plants and gas turbines, and from machinery and infrastructure to integrated defense and space systems.
    For more information, please visit the MHI Group website: http://www.mhi-global.com.
    For Technology, Trends and Tangents, visit MHI's new online media SPECTRA: http://spectra.mhi.com.

    Contact:
    Mitsubishi Heavy Industries, Ltd. Joseph Hood, PR Manager Email: mhi-pr@mhi.co.jp Tel: +81-(0)3-6716-2168 Fax: +81-(0)3-6716-5860

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Dec 20, 2017 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004) has started this month shipment of 3.5-inch hard disk (HD) media for storage capacity of 1.5-1.8 terabyte (TB) per platter, which feature the world's highest storage capacity for this size available on the market today.

    SDK's 3.5-inch 1.5-1.8 TB HD media have been adopted into Toshiba Electronic Devices & Storage Corporation's hard disk drive (HDD) for near-line storage, "MG07ACA Series," which is the world's first HDD to achieve total storage capacity of 14 TB with Conventional Magnetic Recording (CMR). SDK has started supplying its 3.5-inch HD media for this application, using the ninth-generation perpendicular magnetic recording (PMR) technology. In 2005, SDK became the world's first to manufacture and sell PMR-technology-based HD media.

    HDDs are widely used for recording digital data, and their shipment volumes for use in data centers have been increasing in recent years, reflecting exponential growth in generated data in line with the progress of cloud computing. HD media are key components of HDDs, significantly influencing their storage capacity, and SDK has been speedily launching highest-level-capacity HD media. As the world's largest independent HD media supplier, SDK will continue to contribute to the expansion of storage capacities of HDDs in accordance with the company's motto of "Best in Class."

    Press release: http://www.sdk.co.jp/english/news/2017/26894.html

    About Showa Denko K.K.

    Showa Denko K.K. ("SDK"; TSE:4004, US:SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial and high-performance gases and chemicals and high-purity gases and chemicals for the semiconductor industry, and the Inorganics Sector provides ceramics products such as alumina, abrasive, refractory and graphite electrodes and fine carbon products. Today, the Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.

    Contact:
    Public Relations Office Phone: 81-3-5470-3235

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Speaking at a Hong Kong Trade Development Council (HKTDC) press conference were (L to R): HKTDC Assistant Principal Economist (Global Research) Louis Chan, HKTDC Director of Research Nicholas Kwan and HKTDC Principal Economist (Greater China) Billy Wong.
    UK Firms Polled on Post-BREXIT Strategy

    HONG KONG, Dec 20, 2017 - (ACN Newswire) - The Hong Kong Trade Development Council (HKTDC) expects Hong Kong exports to increase in value by six percent, while the volume of exports is anticipated to grow by four percent in 2018. HKTDC Director of Research Nicholas Kwan attributed the rise to broad-based expansion in investment, trade and consumption, coupled with strengthening consumer and business confidence.

    "Overall demand will remain sturdy with the expansion in both developed and emerging economies," said Mr Kwan. "This year's positive export trend will likely carry on to next year, though the pace of growth is expected to slow. But there are formidable challenges facing Hong Kong exporters, such as rising Sino-US trade tensions, the possibility of a faster-than-expected tightening of US monetary policy and escalating geopolitical tension."
     
    ----------------------------------------------------------------------
    Value Volume Unit value change
    ----------------------------------------------------------------------
    2017 (estimate) +8.0% +6.2% +1.8%
    ----------------------------------------------------------------------
    2018 (forecast) +6.0% +4.0% +2.0%
    ----------------------------------------------------------------------

    Exporters' Confidence Level Improved in 2017

    The latest HKTDC Export Index, published today, shows the confidence level of Hong Kong exporters has improved substantially compared to the previous year. The Index monitors the current export performance of Hong Kong traders and gauges their near-term prospects. Reading above and below 50 indicate positive and negative sentiment, respectively. Overall, the average HKTDC Export Index level in 2017 was 47, significantly higher than last year's 36.8.

    In the fourth quarter of 2017, the Index dropped by 1.6 points from the previous quarter to 44.6, with only the toy sector showing improvement, at 43.3, up from last quarter's 41.2. "This indicates exporters' conservative sentiment towards Hong Kong's short-term export performance. But, they are optimistic about the year ahead: 76 per cent of the exporters surveyed expect their sales to increase or remain unchanged in 2018," said Mr Kwan.

    Meanwhile, the Trade Value Index recorded a 14-quarter high of 52.1, indicating that unit prices are expected to rise across key industries.

    Developed Economies continue to Improve

    Growth in the United States has been driven by both private consumption and equipment investment. "Another positive development is the rise in business investment, making US economic expansion increasingly broad-based across sectors," said HKTDC Principal Economist (Greater China) Billy Wong. "The promised pro-growth tax overhaul is making headway and is expected to provide an additional boost."

    Mr Wong added that economic growth has surpassed expectations in the European Union, propelled by private consumption amid lowering unemployment, while investment has also showed signs of picking up, thanks to low borrowing costs.

    Developing Asia Remains Vibrant

    Mr Wong said rising consumption in the developed nations will boost export-oriented emerging economies. "The Chinese mainland is expected to maintain its current growth level," he said. "Supply-side reforms will continue to be a priority to improve the efficiency of the economy. As part of the strategy to rebalance the economy, using private consumption as a growth driver appears to be gaining ground. China is also adopting policies to bring in more imports to help satisfy domestic consumer demand."

    He added that, spurred by a decent global trade environment, robust domestic demand and growing foreign investment, the pace of growth among ASEAN economies has quickened, with the momentum expected to continue. "Rising export production should fuel demand for imported intermediate and capital goods," Mr Wong added.

    Favourable Prospects for Hong Kong Exports in 2018

    Electronics and toys outperformed other sectors and the new-tech products are in the spotlight. Mr Wong identified some bright spots in several industries:

    - Electronics: Emerging technologies, such as cloud computing, the Internet of Things and, big data, are likely to boost demand for semi-conductors and related parts and components. Prospects for AR/VR applications, robotics, as well as wearable electronics, especially those with smart home/smart living applications, remain positive.

    - Clothing: The development of fast-fashion and simple-style clothing will benefit lower-end exporters, while the higher-end market will also pick up when shoppers start to look for more fashionable items as their incomes rise.

    - Toys: Demand for educational toys is expected to continue, led by blockbuster licensed toys, STREAM (science, technology, engineering, arts, maths and robotics) toys and those that incorporate VR and AR applications.

    - Timepieces: Sales of luxury watches should hold steady while demand for fashionable watches is on the rise. Smart watches with functions such as fitness tracking, smart notifications and mobile connectivity are likely to remain popular.

    - Jewellery: Platinum jewellery is expected to be popular because of the metal's sluggish price, while demand for gold jewellery remains stable. Sales of fine jewellery are also likely to pick up, especially those with fine design and craftsmanship.

    UK Businesses Target non-EU Markets

    To gauge the impact of the impending departure of the UK from the European Union on business, HKTDC Research recently conducted a survey during the Council's flagship event 'Think Asia, Think Hong Kong', in London. The study sought to learn more about how UK companies perceive the impact of Brexit on their business, and assess their Brexit readiness, as well as their plans to explore future non-EU business opportunities.

    The survey results found that most of the UK enterprises interviewed had either adopted a "wait and see" approach (30%) or intended to focus/invest more in non-EU markets in the future (35%), with developing Asia (including the Chinese mainland, India and the ASEAN bloc) high on their agenda.

    "This is in line with the finding that 75 per cent of respondents were interested in capitalising on the opportunities emerging from the Belt and Road Initiative," said Louis Chan, HKTDC Assistant Principal Economist (Global Research). "Of those companies looking to explore new markets, securing the appropriate professional service support and researching their target overseas markets were key strategies for their post-Brexit business development."

    Nearly half of the respondents indicated they would seek professional services support from Hong Kong (24%), the Chinese mainland (15%) or Singapore (10%) as an initial step. Thirty-seven per cent of the respondents considered establishing a regional office or regional headquarters in Hong Kong as a way to access and service their chosen overseas markets.

    More than 80 per cent acknowledged that Hong Kong's professional services sector - including companies providing financial, legal or marketing support - could contribute significantly to accessing the emerging business opportunities in many of the Belt and Road countries. As such, those respondents said they were open to learning more about Hong Kong's pivotal role in the Belt and Road Initiative.

    Reference:
    - HKTDC Research webpage: www.hktdc.com/research
    - Hong Kong Export Prospects 2018: http://goo.gl/w3fDnX
    - HKTDC Fourth Quarter 2017 Export Indices: http://goo.gl/YuYs1U
    - Brexit Survey: UK Businesses Already Targetting Non-EU Markets: http://bit.ly/2jLijcQ
    - HKTDC Business-Stat Online: http://bit.ly/1ITG8bs
    - Photos Download: http://bit.ly/2jbn5zY
    - Podcast: Hong Kong Export Outlook 2018: http://goo.gl/X87pvp

    About HKTDC

    Established in 1966, the Hong Kong Trade Development Council (HKTDC) is a statutory body dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. With 50 years of experience, the HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.
    - Google+: https://plus.google.com/+hktdc
    - Twitter: http://www.twitter.com/hktdc
    - LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

    Contact:
    HKTDC Comms & Public Affairs Dept Beatrice Lam T: +852 2584 4049 E: beatrice.hy.lam@hktdc.org

    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    HONG KONG, Dec 20, 2017 - (ACN Newswire) - In today's China, it seems that every few years, a group of dazzling enterprises will turn out to be the ones bringing about a series of changes in the national economy and the people's livelihood, encompassing all areas including clothing, food, shelter and transportation.

    Such a revolution is also currently underway in the healthcare field.

    In just four years' time, a company called Far East Horizon, the hospital group of which has discreetly secured a position in the forefront of social capital investments in healthcare.

    First, let us take a look at a set of data:
    In terms of size, as of early December 2017, Far East Horizon Investment Holdings had as many as 30 hospitals with more than 12,000 beds, forming a nationwide hospital operating network covering all the major regions in China and ranking first in China in terms of the number of for-profit hospital beds.

    In terms of operating results, in the first half of 2017, Far East Horizon's hospitals generated an operating income of RMB590 million and a gross profit of RMB180 million, representing a year-on-year increase of 150% and of 166% respectively. Their operational efficiency is also commendable among first-tier hospital groups.

    In the words of Wu Zhijun, Vice President of Far East Horizon and General Manager of Far East Horizon Healthcare Group: "Our hospitals are no less favourable to any professional medical group as far as the status of development is concerned."

    01 Unbalanced development in healthcare has given birth to a century lasting industrial window

    Theoretically, some great companies should have long been created in China's healthcare field.

    China is the world's most populous country with a population of 1.4 billion, accounting for one-fourth of the global population and four times that of the United States ranking third. In addition, the country is gradually becoming an aging society and therefore has more pressing medical needs than any other country in the West. The market size of China's health industry is as high as RMB8 trillion and is seen to reach RMB16 trillion by 2030. On the other hand, there are only 4.2 hospital beds for every 1,000 Chinese citizens, a level well below that of developed countries.

    The report of the 19th National Congress of the Communist Party of China has clearly put forward the "healthy China" strategy with the aim of supporting social investments in healthcare and developing the health industry. It has been further pointed out in the "Outline of the Plan for a Healthy China in 2030" that we should optimise the landscape for diverse healthcare investments, hence spawning new healthcare industries, forms and models so as to continuously enhance market vitality in the healthcare field. The "13th Five-Year Plan for Sanitation and Health" has also been proposing that the goal of "treating serious diseases at county-level hospitals" shall be basically achieved by 2020.

    All of these have outlined a grand blueprint for private and social healthcare investments to play a role in the development of China's healthcare industry.

    In contrast, China's healthcare market is extremely dispersed at present and there is no leading local hospital group brand whether in the public or private system. As far as hospital groups listed on a standalone basis are concerned, the annual operating income for listed groups in the United States exceeds RMB60 billion on average while that in Asia is RMB6.2 billion on average, comparing to an average of only RMB600 million in China.

    Who will lead this industry trend? Who will be the leader of this competition? It may be too early to come to a conclusion at this point but for Far Eastern Horizon quietly ploughing in the local healthcare field for nearly two decades, its strategic intent to ride the wave and its outline to disrupt the industrial landscape have emerged.

    02 Far East Horizon's unique advantages in terms of hospital operation

    Hospitals of Far East Group quickly advancing to the top in China in terms of the number of beds are a demonstration of Far East' profundity in the healthcare industry and its pursuit of an ambitious vision over the past decade.

    As we all know, Far East Horizon has traditionally engaged in financial leasing and other innovative financial services, but its strategic goals are far more than that. Back in 2003 when HealthcareBusiness Division, its first business division, was established, Far East had proposed a "three-step" healthcare development strategy determined to fulfil the mission of creating a foothold in and serving the healthcare industry, and extending its business from purely financial services to hybrid operations and, when the time is ripe, entering into industrial investments to become a key member of the industry.

    Over the past two decades, Far East Horizon was only able to develop its "new assets" in the hospital operation business in as short as a few years by adhering to its established strategy and capitalising its accumulation of know-how.

    Far East's long-term commitment has resulted in competitive advantages that are hard to imitate:

    1. Strong capital strength. With its assets of over RMB200 billion and billions of profits each year, Far East Horizon is capable of providing continuous support to hospital investments and operations.

    2. A profound understanding of the healthcare industry. Hospitals are a typical capital-, intelligence- and technology-intensive industry. Far East Horizon has settled in this field for nearly 20 years, having been in contact with over 10,000 healthcare clients and nearly 3,000 partner clients covering all the major hospitals in China. In addition to the financial business, in recent years, Far East Horizon has continuously developed businesses including medical consulting, operations management and engineering services. In other words, being a senior integrated service provider and a significant participant in China's healthcare industry, Far Eastern Horizon has won wide recognition in the industry on its system-wise expertise.

    3. Pattern-based advantages arising from the leadership in scale. For any industry, scale, the key variable in winning out, refers to the ability of absorbing resources as well as the spillover effect and the degree of empowerment which are the basic preconditions for a company to gain its industry status, create the Matthew effect and establish strongholds. On this track of business logic, Far East is currently surpassing and taking the lead.

    4. The original "Three Ones" model. On the basis of its accumulation and understanding over the years, Far East spends great efforts in the operation of hospitals upon investment and allocates professional operation teams to enhance the operational efficiency of each hospital. In this process, it has put forward the original "Three Ones" business model featuring "one system, one network and one hospital" aiming at establishing a standardised and intensified operation network, enhancing standards of hospital operation and thus forming a differentiated operational pattern.

    03 Differentiated investment strategies and innovative business models

    Healthcare investment is a highly value-oriented industry. How to attend simultaneously to the profit seeking nature of capital and the public welfare nature of healthcare service is an ordeal for business operators. In this regard, Far East Horizon has initially achieved a good balance in practice. This balance is primarily reflected in the creativeness of investment strategies and business models.

    In addition, Far East Horizon has clearly formulated its long-term development strategy.

    First, it adheres to the differentiated "encircling cities from the countryside" layout. At present, most of the major industry participants are focused on non-profit hospitals in the first- and second-tier cities in their strategising while Far East Horizon has taken the initiative to make up its plan in the second-, third- and fourth-tier cities. While having a population accounting for more than 60% of the total, these regions are extremely short of quality healthcare resources resulting in the most unbalanced supply and demand of healthcare services. Starting from these regions will be fully compliant with the national strategy of "treating serious diseases at county-level hospitals" as well as a reasonable strategy to hit the tender point in China's healthcare industry.

    Second, it goes for "specialised and highly integrated" for-profit hospitals. All of the thirty hospitals under Far East Horizon are for-profit hospitals, hence forming a significant difference with peers. In addition, Far East Horizon insists on primarily investing in hospitals specialising in orthopaedics, oncology, obstetrics and gynaecology and nephrology as well as general hospitals with the features of a specialised hospital. These hospitals which are relatively complete in terms of function, discipline and system are conducive to professional integration and improvement.

    Third, it has unique reachability to quality resources and targets. The long-term accumulation and widespread recognition of Far East Horizon in the healthcare industry has given it the ability to reach out for quality healthcare resources and target assets that is unattainable by any competitor, in addition to the availability of more choices. Far East Horizon will give priority to hospitals established by registered medical practitioners to ensure professionalism. Priority will be given to hospitals ranking among the top three at the municipal and county levels having competitive advantages in their locality in terms of word-of-mouth reputation and competence. Priority will also be given to those with consistent requirements in their pursuits and developments to ensure that there is room for integrating resources and tapping potentials for development going forward.

    On the business front, Far East Horizon has also created a new model.

    Leveraging creative post-investment integration and operational capabilities, it spares no effort in building the innovative "Three Ones" model.

    Different from general hospital groups in the market which are characterised by loose management of affiliates as well as low correlation and little interaction among hospitals, Far East Horizon conducts a systematic management of its hospitals upon its investment in order to enhance their overall operational efficiency and medical skills. All of these are based on the "Three Ones" business model developed by Far East:

    One system: standardisation
    In response to the lack of unified standards for the current Chinese healthcare system, Far East Horizon will strive to resolve the problem of consistency in medical standards so that its hospitals can operate under "one system". Take discipline building for example. Going forward it may be refined to how many people are needed in each discipline office. Healthcare services may also be refined to how much gauze bandage is needed in each step. In addition, the hierarchical classification of pathogenic diseases as well as the distinction between simple and complex medical work will make greater use of superb medical skills.

    One network: cloud hospital
    Far East Horizon is committed to building an integrated and intelligent "cloud hospital" through the use and integration of scientific and technological means such as the Internet, cloud computing and AI, bringing together standardised data from all member hospitals nationwide to a common data centre. Currently, the data centre is set to be built in Shanghai's Pudong. In the future, hospitals under Far East Horizon will base on an advanced information system for major diseases and disciplines so that a vertically-penetrating system of longitudinal professionalism will be formed and expert resources of various professional consultation centres will be more widely used. It is likely for Far East Horizon's experts to simultaneously guide multiple surgeries in different regions without the need of attending the surgery in person.

    This is not only a network for operation and management but also a network of immense big data. The accumulation and extraction of these big data will derive great marginal value, which can be of service to the medical services of Far East Horizon and accordingly to the community and even the national health industry.

    One hospital: integration
    Going forward, hospitals under Far East Horizon Group will be physically located all over the country but they will be combined into a highly-integrated "medical body" from operation to management, from medical skills to resources allocation and the like. Consequently, the Group's superior medical resources and technologies will be shared among all member hospitals in a balanced manner and that talent, technology and other elements will be put into orderly circulation. One hospital group will be operated as a standalone hospital and the effectiveness of the system will ensure the maximum utilisation of resources, hence bringing the best services to patients.

    04 Building an ultra-large health service ecosystem ahead

    According to the plan, in the upcoming 2018, hospitals under Far Eastern Horizon will increase the number of hospital beds to 20,000. In the next 5-10 years, Far East Horizon will quicken its pace to achieve the goal of over 100 hospitals and 100,000 hospital beds. Upon reaching this goal, Far East Horizon is expected to rank among the largest hospital conglomerates in the world, providing quality healthcare services to at least 50 million people, equivalent to serving the whole population of South Korea or Spain.

    On such basis, it is likely for Far East Horizon to continue adding on more operational concepts of greater ambition.

    For example, financial value will be generated through intensive group purchasing. Far East Horizon is now one of the largest domestic buyers of medical equipment. By establishing a logistics support department at the headquarters and relying on Far East's strong resource integration capabilities, an intensive procurement of medical equipment, medicines and supplies will be adopted to effectively reduce procurement costs, thereby generating great financial value in the process.

    For example, Far East is currently building a top-class industry expert team across disciplines including obstetrics and gynaecology, orthopaedics and oncology and will continue to enhance the level of medical skills among its hospitals as well as in the society. Relying on expert groups and through professional training, it will continue to improve performance of its doctors to attract more medical professionals to join. On this basis, hospitals in remote regions will also be able to benefit from the high-standard healthcare conditions and thus greater contribution will be made to serving the national strategy of "treating serious diseases at county-level hospitals" in the true sense.

    In addition, on the basis of the 100,000 hospital beds it possesses, Far East will add on a variety of business forms covering finance, insurance, drug research and development, pathology centres, big data platforms, healthcare education and the like. The efficiency released as a result of such variety is expected to allow the value of every single bed in the hospitals under Far East Horizon to be continuously magnified so that more products and services of great potential and value will be generated, creating a huge network platform effect and making it likely for predictable capital value to grow at an exponential rate.

    These are the thoughts and feelings of Far East Horizon about healthcare, conforming to the national healthcare policy directions and industry development trends, never forgetting the very beginning purpose of creating an innovative healthcare group boasting medical safety, service quality and leading management. This healthcare group will provide services to a large population through their life cycle from birth to old age, becoming a major force for boosting national health beyond the public healthcare system.


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Vpoint Card
    Hanoi and Tokyo, Dec 20, 2017 - (ACN Newswire) - Vietnam Post and Telecommunications Group (VNPT), a major telecommunication group in Vietnam; Vietinbank, one of the largest state-owned banks in Vietnam and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd. ("JCB"), today announced the launch of the Vietinbank-VNPT-JCB Co-branded card (Vpoint Card) in Vietnam.

    The Vpoint Card is the first point card in the market which allows millions of consumers to earn points by spending at any merchant in the Vpoint network. As a result of the comprehensive co-operation among VNPT, Vietinbank and JCB, Vpoint Card can also be used at JCB's nation-wide merchant network in Vietnam as well as JCB's international merchant network with around 30 million locations globally.

    The card works not only as an international credit card but also as a Vpoint membership card at the same time. All the cardmembers can enjoy JCB privileges such as JCB Plaza & JCB Plaza Lounge, staffed service counters for JCB cardmembers located around the world. In addition, promotions and discounts of up to 50% will be offered at famous & popular Vpoint merchants like restaurants, taxis, spas, supermarkets and travel agencies.

    Furthermore, for each purchase with the card, a certain number of Vpoints would be earned which then could be redeemed for many attractive gifts. Currently, the Vpoint community is a fast growing network with more than 2,000 selective & popular merchants such as Kichi Kichi, Saigon Tourist, VinaSun, VnTrip and Bibomart.

    Mr. Pham Anh Tuan, Deputy General Director of VNPT Vinaphone, commented "On behalf of VNPT, I am very pleased to announce that we are issuing Vpoint Card. This partnership among VNPT, Vietinbank and JCB will strengthen the ties between our business and the two countries of Vietnam & Japan. Our customers can enjoy all the various attractive benefits developed by not only VNPT but also Vietinbank and JCB."

    Mr. Kimihisa Imada, President & COO of JCB International, said, "I am delighted to establish a close partnership with VNPT as one of the largest telecommunication groups in Vietnam with nearly 40 million customers. JCB cards have been issued in Vietnam since 2011, and we have a strong commitment to the development of the Vietnam cashless payment market, and offer a unique payment experience to our customers. We are convinced that this first endeavor co-brand card will be popular in Vietnam as it is in Japan. I am confident that the Vpoint Card would be successful as it directly inherits VNPT's huge potential customer database, in additional to our diversified privileges as well as outstanding banking services by Vietinbank."

    About Vietinbank

    As one of the leading commercial banks in Vietnam, VietinBank always takes the lead in providing a variety of banking products and services, of international standards. In particular, VietinBank card products and services have received the trust of numerous customers across the country. Until now, the card business activities of VietinBank has achieved encouraging results, being the market leader in Vietnam cards market with more than 23% market share of the domestic debit card; approximately 30% market share of the international card; nearly 33% market share in developing POS payment system in Vietnam, etc. VietinBank card products and services are in species diversity with remarkable utilities, which gives customer satisfaction and contributes to VietinBank's pole position in the Vietnam market.

    About VNPT VinaPhone Corporation (VinaPhone)

    Vinaphone is a Vietnamese major mobile network operator. Founded on 26 June 1996, as a GSM launcher, Vinaphone is the second network and currently the second largest provider in Vietnam. As a member of Vietnam Post and Telecommunications Corporation, in 1999 VNPT VinaPhone was the first network to cover service in 100% of districts nationwide, including districts in mountainous or remote areas. VinaPhone was the first network operator to launch 3G services nationwide. VinaPhone's 3G, 4G coverage is up to 90% of Vietnam's territory and international roaming to 1.200 service - providers of 100 countries, with the total of 40,000 BTS in Vietnam and in several countries in Asia-Pacific region. Currently, VinaPhone has 30 million mobile subscribes with over 7,000 customer service centers in 63 provinces.

    About JCB

    JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

    Contact
    VIETNAM POSTS AND TELECOMMUNICATIONS GROUP
    Ms. Nguyen Hong Lien
    Market Research & Service Development
    Tel: +842438233823
    Email: nhlien@vnpt.vn

    JCB Co., Ltd.
    Kumiko Kida
    Corporate Communications
    Tel: +81-3-5778-8353
    Email: jcb-pr@info.jcb.co.jp

    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Subscribing Shanghai Henlius' Shares at a Consideration of RMB99.4 Million

    HONG KONG, Dec 20, 2017 - (ACN Newswire) - Jacobson Pharma Corporation Limited ("Jacobson Group" or the "Group"; Stock Code: 2633), a leading company engaged in the research, development, production, marketing and sale of generic drugs and proprietary medicines, today announced that through its wholly-owned subsidiaries, Jacobson Medical (Hong Kong) Limited ("Jacobson Medical") and Joyful Ascent Limited (the "Subscriber"), it has entered into a Licensing Framework Agreement and a Capital Increase Agreement with a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (a joint stock limited company listed on the main board of the Hong Kong Stock Exchange and the Shanghai Stock Exchange) namely, Shanghai Henlius Biotech Inc. ("Shanghai Henlius"), a technological leader in research and development of biosimilar antibody drugs in China. These collaborative agreements will help Jacobson Group and Shanghai Henlius forge a strategic platform to quickly tap into the fast growing biosimilar market in Hong Kong and certain emerging ASEAN markets.

    Under the Licensing Framework Agreement, Jacobson Medical will be granted an exclusive right to develop and market a propriety biosimilar product of Shanghai Henlius (the "Product") in Hong Kong and Macau for a period of 10 years, alongside a right of first negotiation towards entering into a definitive agreement to commercialize the Product in certain emerging markets within ASEAN domains.

    The Product is the second monoclonal antibody developed by Shanghai Henlius with a general name of Recombinant Humanized Anti-Her2 Monoclonal Antibody Injection, which belongs to the biosimilar version of Trastuzumab. Shanghai Henlius received the China Food and Drug Administration ("CFDA") approval for clinical trials of the Product for the indication of breast cancer in July 2015. As of the date of this announcement, the Product for the indication of breast cancer has officially entered phase 3 trial. Also, at the beginning of 2016, Shanghai Henlius received CFDA approval for clinical trials of the Product for the indication of gastric cancer.

    In respect of the Capital Increase Agreement, the Subscriber has conditionally agreed to subscribe 4,376,422 shares of Shanghai Henlius out of the total of 55,434,678 additional shares at the issue price of RMB22.71 per share in cash (the "Capital Increase"), for a consideration of RMB99,388,544 (approximately US$15,000,000).

    The Licensing Framework Agreement and the Capital Increase Agreement as a whole represents a strategic move of the Group for making an entry into the fast-growing biologics market by leveraging the Group's pre-eminent market position, extensive experience in drug registration and well-established sales and distribution network. Such endeavors are believed to be instrumental to the comprehensive development and enhancement of the core competitiveness of the Group.

    Jacobson Pharma, a leading pharmaceutical company in Hong Kong with a strong market position in a number of therapeutic categories, has been focusing on developing specialized and premium generics. With a swift-to-market strategy through in-licensing and direct investment on biopharmaceutical projects, the Group is poised to target the biologics market which has witnessed robust growth over the years.

    Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma said, "We are pleased to announce our collaboration with Shanghai Henlius who is a prominent player spearheading the technological development of antibody biosimilar drugs in China. The combination of Jacobson Group and Shanghai Henlius is a highly strategic, value-enhancing collaboration creating a platform for both companies to gain a quick hold on the growth opportunities of biosimilar products in the market of Hong Kong and certain emerging markets within ASEAN domains.

    This collaborative platform also provides the basis for our further partnering opportunities in the field of biologics, offering long term strategic values to the Group and a positive outlook to create sustainable shareholder value."

    About Jacobson Pharma Corporation Limited (Stock Code: 2633)
    Jacobson Pharma is the largest generic drug company in Hong Kong with over 30% share of the total generic drug market for each year since 2012. The Group's proprietary medicines, notably being Po Chai Pills, Tong Tai Chung Woodlok Oil, Ho Chai Kung Tji Thung San, Contractubex Scar Gel Doan's Ointment, Flying Eagle Wood Lok Medicated Oil, Saplingtan, Shiling Oil and Col-gan Tablet have been widely recognized by the market. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group's website: http://www.jacobsonpharma.com

    For media enquiries, please contact:
    Strategic Financial Relations Limited
    Vicky Lee Tel: (852) 2864 4834 Email: vicky.lee@sprg.com.hk
    Angela Ng Tel: (852) 2864 4855 Email: angela.ng@sprg.com.hk
    Queenie Chan Tel: (852) 2864 4851 Email: queenie.chan@sprg.com.hk




    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Global leader in computer vision space builds upon its 18 granted patents worldwide, spearheading innovations to make computer vision part of everyday reality

    HONG KONG, Dec 21, 2017 - (ACN Newswire) - eyeSight Technologies, a leader in advanced embedded computer vision and deep learning, has been awarded two new patents: one offers a groundbreaking solution for the power consumption issue AR/VR headsets and wearable devices suffer from, and the other, referred to as the Direct Pointing Interaction technology, addresses solutions centered around direct pointing detection for interaction with a digital device and displays.

    eyeSight Technologies' IP Portfolio contains more than 40 patent applications worldwide and currently has 18 granted patents in the U.S., Asia and Europe. This growth puts eyeSight in a leading position in such a crucial market, as more and more patents in the computer vision and machine learning space are being developed to make devices more intelligent and lessen the interaction gap between humans and machines.

    "Our strong computer vision patent portfolio and years of experience place eyeSight in a market leading position" said Gideon Shmuel, CEO of eyeSight Technologies. "Many years of research and development have been put in to delivering our cutting edge sensing solutions which are deployed on millions of devices worldwide"

    One of eyeSight's new patents, which was issued in China, addresses the acute issue of gesture recognition's power consumption, which is mainly prevalent in AR/VR applications. By controlling the camera, changing the frame rates and video resolution, this patent helps significantly reduce touch-free interaction solutions' power consumption rate by and astonishing ten times.

    The company was granted another new patent, this one in the U.S., allowing users to simply point toward a point of interest on a digital display, on an augments in-car HUD, or a smart home device - i.e. smart TV, smart lights and thermostat - to control it directly. Rather than performing indirect gestures to prompt the device to perform an intended action, such as lifting a finger upward to get a mouse cursor on the display and moving the hand in order to move the cursor until it reaches the desired icon, the new direct pointing technology can immediately detect the exact location a user is pointing at, making the interaction natural, direct and immediate.

    "As we move into the era of autonomous and semi-autonomous cars, the car occupants will have free time to interact with devices and new IOT & connected car content displayed on the in-car screens and augmented window displays." Said Itay Katz, CTO and founder of eyeSight, "Our various sensing capabilities together with our new direct pointing patented solution will allow the most natural and enjoyable interaction method with this new type of content and displays" Katz added, "Our technology can be combined with voice commands to even further simplify the interaction".

    To learn more about eyeSight Technologies, visit www.eyesight-tech.com.

    About eyeSight Technologies:
    eyeSight is the leading provider of embedded computer vision and deep learning solutions, bringing user awareness and gesture recognition technologies to a variety of devices and industries. The company's technology improves daily life interactions with the home, the car, and other consumer electronics with simplified user interactions that are intelligent and personalized. eyeSight's technology was designed for a wide range of applications, from active interactions with gesture recognition and finger tracking, to passive user detection and face analysis, delivering customized experiences based on user features and actions. For more information, visit www.eyesight-tech.com.


    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Ms. Yuan Yuan, Chairlady, Chief Executive Officer & Executive Director of China Futex Holdings Limited (right) and Mr. Zheng Jiafu, Executive Director (left) introduced the company's proposed listing on the Growth Enterprise Market of the Stock Exchange of Hong Kong.
    Offers 300,000,000 Shares; Offer Price Range between HK$0.18 to HK$0.28 per Share

    HONG KONG, Dec 21, 2017 - (ACN Newswire) - China Futex Holdings Limited ("China Futex" or the "Group"), one of the top ten manufacturers of circular knitting machines in the PRC, today announced details of its proposed listing on the Growth Enterprise Market ("GEM") of the Stock Exchange of Hong Kong Limited ("SEHK").

    Highlights
    - China Futex is one of the top ten manufacturers of circular knitting machines in the PRC and third among all domestic circular knitting machinery manufacturers and seventh among all domestic, foreign-owned and Sino-foreign joint venture manufacturers in the PRC
    - Core products are single circular knitting machines and double circular knitting machines. The Group sells its products under its own brand "FUTEX" directly in the domestic market and overseas including countries along the "One Belt One Road" such as India, Bangladesh, Thailand, Turkey, Vietnam and Egypt and others, such as Korea. It also manufactures circular knitting machines for customers on OEM basis, evidencing the extensive coverage of its sales networks in the PRC and overseas
    - The Group places strong emphasis on quality control and has set up a quality control team. Its quality integrated management system is well-recognized and has earned international certifications and awards
    - With strong R&D capability and investing continuously in technological innovation, the Group holds one invention patent and 15 utility model patents and has filed application for six utility model patents
    - To grasp the enormous opportunities in the PRC, Southeast Asia and other Asian markets, the Group shall push to boost its growth momentum by enlarging its customer base in overseas markets, expanding production capacity and upstream production capabilities, enhancing customer loyalty and brand awareness and also its research and development capabilities, in its strive to become the leading circular knitting machinery manufacturer in the industry

    Offer Details
    China Futex plans to offer a total of 300,000,000 Shares, of which 90%, or 270,000,000 Shares (subject to reallocation), are for Placing ("Placing"); and the remaining 10% or 30,000,000 Shares (subject to reallocation) are for Hong Kong Public Offering ("Public Offering"). The indicative Offer Price range is between HK$0.18 and HK$0.28 per share.

    The Public Offering will commence from 9:00 a.m. on 20 December 2017 (Wednesday) and end at 12:00 noon on 27 December 2017 (Wednesday). The final Offer Price and allocation results are expected to be announced on 3 January 2018 (Wednesday). Dealing of the Shares on GEM of SEHK is expected to commence on 4 January 2018 (Thursday) under the stock code 8506 and in board lots of 12,000 Shares each.

    Essence Corporate Finance (Hong Kong) Limited is the Sole Sponsor of the listing, while Essence International Securities (Hong Kong) Limited is the Sole Bookrunner, and Essence International Securities (Hong Kong) Limited and SBI China Capital Financial Services Limited are the Joint Lead Managers.

    Investment Highlights
    Established brand recognition and proven quality control system
    Since it was founded in 2004, China Futex has focused on research and development, and manufacturing and sale of circular knitting machines. Its production base that spans close to 10,000 sq. m. is in Longhai City, Zhangzhou City, Fujian Province, the PRC. According to the Frost & Sullivan report, in terms of sales value of circular knitting machines in 2016, the Group is one of the top ten manufacturers of circular knitting machines in the PRC, and third among all domestic circular knitting machinery manufacturers and seventh among all domestic, foreign-owned and Sino-foreign joint venture manufacturers in the PRC.

    As an industry leader, the Group places major emphasis on quality control and has set up a dedicated quality control team. It has compiled and uses a manufacturing process checklist which states all the quality control procedures and standards applicable to from quality of raw materials to maintenance of production equipment and machineries as well as on finished goods, to ensure its products meet customers' requirements. It has also set up a quality control department to help with boosting efficiency and reliability of quality control measures. Moreover, the Group's quality integrated management system has earned wide international recognitions including ISO9001 certification, the CE Mark, High and New Technology Enterprise Certification in Fujian and China's Famous Brand, testifying to the Group's strong brand reputation.

    Strong research and development capabilities and continuous technological innovation
    To expand its market and maintain competitiveness, the Group has been relentless in directing resources into technological innovation. Since 2009, the Group's own research and development department led by Executive Director Mr. Zheng Jiafu has pushed forward with developing new products and technologies, upgrading and improving products and optimizing production technologies in use.

    At present, the Group owns 15 utility model patents and one invention patent, including one utility model patent and one invention patent credit to its "Double Loop Transfer Rib Computerized Jacquard Knitting Machine", which sales volume and average selling price had kept climbing during the track record period. Furthermore, the Group is applying for six utility model patents.

    Extensive sales network coverage in China and overseas markets
    The Group has an extensive sales network, covering Asia, Eastern Europe and Africa. As more and more textile manufacturers are shifting their production bases to Southeast Asia and other Asian countries such as India and Bangladesh, the circular knitting machines exported from the PRC to those countries are expected to keep increasing. With its products boasting high quality and functionality, plus having close business relationships with trading company clients, the Group will gradually take its "FUTEX" brand to more overseas markets such as India, Bangladesh, Thailand, Korea, Turkey and Vietnam.

    The Group established Zhangzhou Fukai Trading Co., Ltd ("Zhangzhou Fukai") in 2016 which sells its circular knitting machines directly to overseas markets. The Group also actively takes part in domestic and international industry exhibitions, visits customers and promotes its products using online platforms. During the track record period, the Group's customer base had grown fast and notably and direct sales channels were opened in domestic markets, such as Shaoxing, Hangzhou, Jiujiang, Shenzhen, etc., and overseas markets, such as India, Bangladesh and Egypt, bringing more balanced revenue contributions from different regions to the Group.

    To capture the strong domestic demand and enormous opportunities the One Belt One Road initiative presents
    In recent years, the PRC garment industry has been undergoing an upgrade, with textile manufacturers shifting their focus to producing higher value-added garment products. The PRC government is also putting weight behind development of the textile machinery manufacturing industry and encouraging export. According to the Frost & Sullivan Report, the annual total sales value of circular knitting machinery made in the PRC is expected to grow between 2016 and 2021 at a CARG of 4.4% to RMB4,280 million, and export sales of circular knitting machinery made in the PRC will be growing even faster at a CAGR of 11.6%, reflecting the increasing demand for advanced circular knitting machines around the world.

    Moreover, China officially announced her "One Belt One Road" in March 2015 with the aim of promoting trade and economic activities between the country and more than 50 nations in Central Asia and Southeast Asia. The policy making it more convenient for foreign customers and Chinese suppliers to communicate, transport products and settling payments has also benefited the textile machinery manufacturing industry. According to the Frost & Sullivan Report, major knitwear manufacturing countries including India, Thailand, Bangladesh and Korea have been importing more and more circular knitting machinery, increasing between 2016 and 2021 at a CAGR higher than that of importing from other countries. Therefore, the Group will strive to capture the strong demand in China and the enormous business opportunities presented by the "One Belt One Road" policy.

    Growth Strategy
    To capture the huge opportunities in China, Southeast Asia and other Asian markets, China Futex will push to boost its growth momentum by expanding its overseas customer base, production capacity and upstream production output, as well as strengthen customer loyalty, brand awareness and its research and development capabilities, in the strive to become an industry-leading circular knitting machinery manufacturer.

    Capitalizing on its established brand recognition and sales network, the Group plans to set up overseas sales offices in India and Bangladesh to help expand its overseas business. It will also promote brand awareness by taking part in industry exhibitions, trade fairs and via online platforms, so as to reinforce its overseas sales network and enlarge market share. Furthermore, to better meet the anticipated increase in sales and production volume, the Group intends to upgrade and enhance its existing equipment and machineries, plus adopt equipment with a higher level of automation, including purchasing one high-end CNC machinery and one lathe, to help expand production capacity. By then, the Group's designed production capacity is expected to increase by 203 units to 957 units. The Group also intends to procure machineries for manufacturing of core components such as Hearts to boost its upstream production capacity, better control the quality its circular knitting machinery and reduce the risk from losing suppliers. By manufacturing Hearts itself, the Group can save about RMB3.8 million in cost per 1,000 units of machinery it produces.

    To enhance customer loyalty and brand awareness, the Group plans to keep enhancing its quality control system and provide more training to its staff, and also maintain close communication with customers to seize latest market information and trends, that it may strengthen customer satisfaction. China Futex also intends to work with suppliers in product development and also collaborate strategically with higher education institutions to collect production technology industry information and provide training to its research and development personnel to enhance the Group's research and development capabilities. At the same time, the Group wishes to recruit experienced research and development personnel who can enhance the strengths and expertise of its research and development team, that it may continuously explore latest circular knitting machinery related technologies.

    Use of proceeds
    Assuming an Offer Price of HK$0.23 per Offer Share, being the mid-point of the indicative Offer Price range, the net proceeds, after deducting underwriting commission and related expenses of Public Offer, are estimated at approximately HK$43.9 million, which will be used as follows:

    Usage / Approximately
    Expand upstream production capacity: 32.3%
    Maintain and strengthen research and development capability: 19.4%
    Enhance customer loyalty and brand awareness: 11.2%
    Expand production capacity: 10.3%
    Expand customer base in overseas markets: 9.1%
    Repay existing loan facilities: 9.1%
    General working capital: 8.7%

    Financial highlight
    RMB'000 For the year ended 31 Dec For six months ended 30 Jun
    2015 2016 2016 (Unaudited) 2017
    Revenue 73,162 94,302 56,811 63,185
    Gross profit 22,586 33,420 20,525 22,674
    Gross profit margin (%) 30.9 35.4 36.1 35.9
    Profit for the year/ period* 11,487 17,002 11,737 12,736
    Net profit margin* (%) 15.7 18.0 20.7 20.2
    *excluding one-off listing expenses

    About China Futex Holdings Limited
    Established in 2004, China Futex is engaged in the research and development, manufacturing and sales of both single and double circular knitting machines. It operates a production base covering approximately 10,000 sq. m. at Longhai City, Zhangzhou City in Fujian Province. According to Frost & Sullivan, in terms of the sales value of circular knitting machines, the Group was among the PRC's top 10 circular knitting machine manufacturers in 2016 and ranked third among all domestic manufacturers and seventh among all domestic, foreign-owned and Sino-foreign joint venture manufacturers. Boasting an extensive sales network at home and abroad, the Group also directly sells its products under its own "Futex" brand to domestic and overseas markets covered within China's "One Belt One Road" initiative, including India, Bangladesh, Thailand, Turkey, Vietnam, Egypt and other countries such as Korea. The Group also manufactures circular knitting machines on an OEM basis.

    Media Enquiries
    Strategic Financial Relations Limited
    Maggie Au Tel: (852) 2864 4815 Email: maggie.au@sprg.com.hk
    Katrina Leung Tel: (852) 2864 4857 Email: katrina.leung@sprg.com.hk
    Janet Fong Tel: (852) 2864 4817 Email: janet.fong@sprg.com.hk
    Fax: (852) 2527 1196



    
    
    Copyright 2017 ACN Newswire. All rights reserved. www.acnnewswire.com

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    Aiming to integrate three companies operating in parts and accessories to strengthen business globally

    Toyota City, Japan, Dec 21, 2017 - (JCN Newswire) - Toyota Motor Corporation announces its decision to merge subsidiaries Toyota Technocraft Co., Ltd., J-TACS Corporation, and Toyota Modellista International Corporation to establish a new company on April 1, 2018.

    Toyota believes that it is important to provide services that meet customers' increasingly diversified needs, as demands on car manufacturers also increase, not only for creating vehicles, but also in the field of customization.

    The three aforementioned companies operate in overlapping fields and have thus far cooperated with each other to help Toyota expand its business. However, amidst intensifying global competition, the new company, as a core company of the conversion and accessories business for the Toyota Group, is required in order to make further improvements in all areas, including planning, development, production, and sales, and to expand business globally by providing attractive products.

    This integration will bring together the expertise of the three companies and leverage their management resources comprehensively and efficiently to respond to customer needs through the development of product diversification, utilizing the agility of the conversion and accessories business. Furthermore, Toyota believes that strengthening the development support system that supports its motor sport activities can contribute to Toyota's aim of making ever-better cars.

    Specific initiatives of the new company include:
    1. Further strengthening product development capability and cost competitiveness in the conversion and accessories field, in response to diversifying customer needs
    2. Expanding and strengthening the conversion and accessories business globally
    3. Strengthening the support structure for motor sports and providing attractive parts
    4. Improving efficiency in all divisions including planning, development, production, sales, and administration

    About Toyota

    Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

    Contact:
    Toyota Motor Corporation Public Affairs Division Global Communications Department Tel: +81-3-3817-9926

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Aiming to provide an integrated service from corporate automobile leasing to practical and value-added services for customers

    TOKYO, Dec 21, 2017 - (JCN Newswire) - Toyota Motor Corporation announces its decision to merge its wholly owned subsidiary Toyota Fleet Leasing Co., Ltd. (TFL) with its wholly owned second-tier subsidiary Toyota Tokyo Rental & Leasing Co., Ltd. (R Tokyo) to establish a new company, Toyota Mobility Service Co., Ltd., on April 1, 2018. In addition to aiming to strengthen the existing corporate automobile leasing and rental car businesses, Toyota intends to plan and provide new mobility services in anticipation of a mobility society.

    Toyota is aware of customers' diversifying needs, which not only includes conventional vehicle ownership, but also the growing need for shared utilization, such as car sharing, in which people use things only whenever and for whatever period they would like. The company has determined that it is important not only to respond to changing needs but also to provide value-added services that uncover potential needs. Many corporations operating across Japan are based in Tokyo, where the earliest expansion of the mobility service society is expected to occur. Consequently, Toyota plans to establish the new company there in order to quickly and flexibly respond to changing uses and needs for cars in this once-in-a-century revolutionary period in the automobile industry.

    The new company will work with Toyota, as well as with Toyota Group vehicle manufacturing companies including Toyota Connected Company in the connected area, Toyota Finance Corporation in finance, and Toyota Usec in the used car business, mobilizing the combined strength of each company to meet a wide range of customer needs. In the future, Toyota aims to become the leading company of a mobility society by developing and offering mobility services adapted to a connected society.

    Specific initiatives of Toyota Mobility Service Co., Ltd. include:
    1. Collaborating with Toyota's in-house companies and Toyota Group vehicle manufacturers, gathering the needs of corporate customers, and promoting the making of ever-better cars by providing feedback for products
    2. Developing and providing new mobility services including solution services for corporate customers, connected services using in-vehicle communication equipment and car sharing, in cooperation with Toyota's Japan Fleet Business Division and a new organization, the Mobility Service Planning Division (to be established in January 2018 as part of Toyota's Japan Sales Business Group)
    3. Constructing a high-quality maintenance network in cooperation with Toyota dealers so that long-range, long-running, high-performance corporate vehicles can be used safely and with peace of mind
    4. Proactively collaborating and forming tie-ups with external companies with high levels of expertise and ambition that already operate in the automobile leasing and sharing fields to provide attractive services toward a future mobility society

    About Toyota

    Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

    Contact:
    Toyota Motor Corporation Public Affairs Division Global Communications Department Tel: +81-3-3817-9926

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    3GPP first 5G NR standard is completed

    Lisbon, Portugal, Dec 21, 2017 - (JCN Newswire) - Today the 3GPP TSG RAN Plenary Meeting in Lisbon successfully completed the first implementable 5G NR specification. AT&T, BT, China Mobile, China Telecom, China Unicom, Deutsche Telekom, Ericsson, Fujitsu, Huawei, Intel, KT Corporation, LG Electronics, LG Uplus, MediaTek Inc., NEC Corporation, Nokia, NTT DOCOMO, Orange, Qualcomm Technologies, Inc., Samsung Electronics, SK Telecom, Sony Mobile Communications Inc., Sprint, TIM, Telefonica, Telia Company, T-Mobile USA, Verizon, Vodafone, and ZTE have made a statement that the completion of the first 5G NR standard has set the stage for the global mobile industry to start full-scale development of 5G NR for large-scale trials and commercial deployments as early as in 2019.

    On February 27, 2017 in Barcelona, global mobile industry leaders announced their support for the acceleration of the 5G NR standardization schedule, which introduced an intermediate milestone to complete the first implementable specification for Non-Standalone 5G NR operation. As a result of this announcement, the schedule acceleration was agreed at the 3GPP RAN Plenary Meeting on March 9 in Dubrovnik, Croatia. This first specification was completed as part of 3GPP Release 15.

    This standard completion is an essential milestone to enable cost-effective and full-scale development of 5G NR, which will greatly enhance the capabilities of 3GPP systems, as well as facilitate the creation of vertical market opportunities. 3GPP plans to continue to develop Release 15, including the addition of support for Standalone 5G NR operation also agreed upon by 3GPP in Dubrovnik. The 5G NR lower layer specifications have been designed so that they can support Standalone and Non-Standalone 5G NR operation in a unified way, to ensure that 3GPP benefits the global industry with a large-scale single 5G NR ecosystem. We express our appreciation for the tremendous efforts that 3GPP has dedicated to accomplishing this challenging standardization schedule.

    AT&T

    "We're proud to see the completion of this set of standards. Reaching this milestone enables the next phase of equipment availability and movement to interoperability testing and early 5G availability," said Hank Kafka, VP Access Architecture and Analytics at AT&T. "It showcases the dedication and leadership of the industry participants in 3GPP to follow through on accelerating standards to allow for faster technology deployments."

    BT

    "BT welcomes the first significant step to 5G deployment and we remain excited about the further innovations that 5G will bring." said Neil J. McRae, Chief Architect at BT, "We are proud to have played a part in this and BT is committed to continuing to drive further 5G standardisation at pace to benefit our customers and communities."

    China Mobile

    "The first version of 5G NR not only provides a NSA solution for 5G deployment but also completes the common part of NSA and SA, which lay a solid foundation for a global unified 5G system with global market scale. We believe the next important milestone that is SA standard providing end to end 5G new capability could be completed by June of 2018, which is very crucial to enable the operators to explore the enterprise and vertical markets. China Mobile is actively working with industry partners for 5G commercialization in year of 2020 and providing various services to customer." said Zhengmao Li, EVP of China Mobile Group.

    China Telecom

    "China Telecom is proud of being part of the 3GPP standard efforts that led to the completion of the first implementable 5G new radio specification. We expect that this important milestone, together with the SA part to be completed later, will promote and accelerate the development of 5G products, trials and commercial deployment in the coming years," said Liu Guiqing, EVP of China Telecom. "With this successful completion of the 5G new radio standard, China Telecom plans to lead the 5G effort by launching field trials in many major cities in China as early as 2018, and prepare for the possible commercialization thereafter."

    China Unicom

    Guanglu Shao, EVP of China Unicom Group, said: "It is the significant step for both 3GPP and the whole industry. This first version of 5G NR standardization provides essential functionalities for NSA and SA deployment, which are equally important for operators. We believe in that the industry could joint together further to make 5G more advanced for both human and vertical societies. We welcome the 5G era's coming, and will continue collaborate with industry partners to make successful 5G commercialization."

    Deutsche Telekom

    "We view both the Non-Standalone and Standalone modes of New Radio as equally important for the completeness of the 5G standard specification. This timely finalization of NSA is one important step on that journey and in the development of the 5G ecosystem," said Bruno Jacobfeuerborn, CTO Deutsche Telekom. "It is crucial that the industry now redoubles its focus on the Standalone mode to achieve progress towards a full 5G system, so we can bring key 5G innovations such as network slicing to our customers."

    Ericsson

    Erik Ekudden, CTO at Ericsson, said: "3GPP has done a tremendous job to complete the first 5G specifications according to industry demand and expectations. As a prime contributor to 5G standardization, Ericsson has worked with industry partners in the evolution of mobile technology to a global network platform for consumers and enterprises. Our research team has worked on 5G since 2010 including early 5G testbed efforts created together with these industry partners. The open contribution-driven specification work and the rapid completion of the first 5G standards for global deployment demonstrates the strength of the 5G eco-system."

    Fujitsu

    Masayuki Seno, EVP and Head of Network Products Business Unit at Fujitsu, said: "I'm very pleased that the first 5G NR standard has been completed today. Fujitsu will accelerate development of 5G NR products based on the first 3GPP 5G NR specifications and provide them to worldwide markets to support our customers' trials and commercial deployments."

    Huawei

    Yang Chaobin, president of Huawei 5G product line, said: "As one of the key players, Huawei has committed to develop a single global 5G standard. With the a successful cooperation and join efforts with global organizations including governments, regulatory agencies, research organizations, academia, industries, and many more sectors, 3GPP 5G NR standardization Phase 1 has been completed with great progress. Huawei will keep working with global partners to bring 5G into the period of large-scale global commercial deployment from 2018."

    Intel

    "We are pleased to work in cooperation and close alignment with global mobile industry leaders to support the new 3GPP Non-Standalone 5G NR standard and to accelerate the first NR trials," said Asha Keddy, Intel vice president and general manager, Next Generation and Standards. "As part of this coordinated effort, Intel will continue to play a leading role across the network, cloud and client devices; and with our first commercial 5G modems, we will help the ecosystem lead the way to 5G deployments worldwide."

    KT Corporation

    Dongmyun Lee, Chief Technology Officer and Head of Institute of Convergence Technology, KT said: "As one of the 5G leaders, we are greatly excited to witness the first ever release of 5G NR NSA specification that the whole industry including KT has endeavored to achieve in recent years and therefore make a strong commitment to finally bring full-scale services of the true 5G standards to commercial market as early as 2019. KT expects that such 3GPP's efforts meeting the market needs will further accelerate the realization of the 4th Industrial Revolution for telecommunication industry."

    LG Electronics

    I.P. Park, Chief Technology Officer, said: "LG Electronics is pleased to be one of key contributors to the first global 5G NR standard completed in a timely manner, which will play a pivotal role in enabling innovative IoT services and expediting the convergence of diverse industry sectors. Along with continued contributions to evolved 5G standards, we will make all the efforts to introduce new innovative 5G convergence products and services in the market."

    LG Uplus

    Joosik Choi, Head of 5G Strategy Planning, said: "We would like to thank to 3GPP and all companies for great effort on initial 5G NR NSA standard which will accelerate promising future. As one of the big contributor for RF analysis on LTE band, 3.5GHz and 28GHz dual connectivity operation, LG Uplus will keep endeavor for bring 5G NR deployment and advanced standard into industry for this ecosystem."

    MediaTek Inc.

    "The milestone reached is significant as it is an important step towards making 5G NR a commercial reality," said Dr. Kevin Jou, Corporate Sr. Vice President and Chief Technology Officer, MediaTek. "As a leading baseband chip provider, MediaTek has actively contributed to the standardization of 5G NR and will continue to do so. With the standard becoming stable, our focus is now on delivering viable commercial solutions that will enable the use of 5G NR technology to its full potential."

    NEC Corporation

    Atsuo Kawamura, executive vice president and head of the Telecom Carrier Business Unit at NEC Corporation, said: "Completion of Non-Standalone 5G NR standardization is a significant milestone for the realization of full-scale 5G services. NEC is strongly committed to driving the progress of standardization for a global mobile system, and believes future 5G services will benefit society in an unprecedented manner by utilizing advanced information and communications technologies. NEC is creating secure and intelligent technologies to realize such services."

    Nokia

    Marcus Weldon, president of Nokia Bell Labs and chief technology officer, Nokia, said: "This is a key milestone in bringing 5G to market, and one in which Nokia is proud to have played a significant role. 5G will advance new possibilities for the role of wireless technology in society, leading to dynamic innovation in mobile broadband and in industrial automation for industry 4.0, enabling the creation of exciting new applications that connect and control our physical and digital worlds."

    NTT DOCOMO

    Dr. Hiroshi Nakamura, Executive Vice President and Chief Technology Officer, NTT DOCOMO said: "I would like to express my deepest gratitude for 3GPP's great effort to successfully complete the first release of 5G NR specification six months ahead of schedule. NTT DOCOMO has made tremendous contributions to the standardization as a world-leading mobile operator. We have been collaborating with various partners across industries to co-create 5G services through '5G Trial Sites' since this May. This completion will accelerate these activities and we will launch 5G services with Non-Standalone 5G NR by 2020."

    Orange

    Arnaud Vamparys, SVP Radio Networks said: "Orange welcomes this inaugural first release of a worldwide standard for 5G. With subsequent 3GPP releases expected from mid 2018 that will accelerate application and IoT development, Orange sees a myriad of opportunities to deliver a differentiated and high quality network, and is therefore fully committed to working with the industry to roll out 5G."

    Qualcomm Technologies, Inc.

    "We are excited to be part of this significant milestone, and to once again be at the forefront making the 5G vision a reality in 2019," said Cristiano Amon, executive vice president, Qualcomm Technologies, Inc. and president, Qualcomm CDMA Technologies. "We look forward to continue working with our mobile industry peers to bring 5G NR commercial networks and devices in 2019 in smartphone and other form factors, for both sub-6Ghz and mmWave frequency bands, and to continue developing 5G technologies to connect new industries and enable new services and user experiences in the years to come."

    Samsung Electronics Co., Ltd.

    DJ Koh, President and Head of IT and Mobile Communications Division at Samsung Electronics, said: "As a global leader in the mobile industry, Samsung has been collaborating with the whole industry to achieve this milestone in 5G standards. With the completion of 5G NSA NR standard, we will be able to expedite 5G commercial deployments including chipsets, devices and network equipment. Samsung will continue making every effort to deliver complete Rel-15 NR standards. Rel-15 NR and its further evolution will be a key milestone for the industry to meet the increasing global demand for enhanced mobile broadband services and exploring new business opportunities and services inspired by 5G."

    SK Telecom

    "Having global 3GPP 5G NR standard by 2017 is one of key milestones to bring 5G into early commercial service in 2019", said Jinhyo Park, EVP, Head of ICT R&D Center, "SK Telecom is
    proud to be one of key contributors to the accelerated 3GPP 5G NSA-NR standardization. We will continue to work on further development of 3GPP 5G NR to ensure readiness for early 5G commercial deployment."

    Sony Mobile Communications Inc.

    Mr. Izumi Kawanishi, Director, EVP, Sony Mobile Communications Inc., said: "Sony has been part of the 5G NR and NSA standardization and recognizes the progress in 3GPP to reach this important milestone with features targeting evolved mobile broadband and ultra low latency communications. Sony Mobile is ready for full-scale development of 5G NR smartphones to take benefit of the opportunities offered by the new standard."

    Sprint

    "We're excited to help usher in the next generation of wireless networks that will drive new levels of innovation and progress around the world," said Dr. John Saw, Sprint CTO. "We congratulate 3GPP and its delegates on this important milestone, and we look forward to working with our industry partners to deploy 5G NR in our 2.5 GHz (NR band n41) spectrum."

    TIM

    Mr. Giovanni Ferigo, CTO, said: "TIM has already defined a sound track towards 5G and is collaborating with key industry players, municipalities and public Institutions to unleash the full potential of 5G for people and vertical markets by 2020 expanding the footprint of LTE-A. The extraordinary work done in 3GPP in a few months to keep the promise of a first set of standards coping with the strict requirements of a new radio interface is a fundamental step in this roadmap. We are looking forward to contributing to the next 3GPP milestones which will complete the work on Release 15."

    Telefonica

    Mr. Enrique Blanco, Telefonica's Global Systems and Networks Director, said: "Telefonica greatly appreciates the efforts made by the industry for completing this major milestone towards 5G. Telefonica acknowledges the full potential of 5G, and encourages the industry to keep developing ambitious ideas in order to deliver outstanding connectivity and bring the best possible experience to our customers. Telefonica is fully committed to working with the industry in this direction."

    Telia Company

    "We are happy to see that the acceleration of 5G standardization that we and the whole industry called for in February has been achieved. This allows for the early commercial deployments needed to open up for innovation and new business opportunities that our customers expect from us", says Mauro Costa, Director Network Architecture & Strategy, Telia Company. "In order for the industry and society to take advantage of the full potential of 5G, it is vital that the standardization now continues with a focus to complete also the stand alone version."

    T-Mobile USA

    "This is an important moment and a crucial development toward making 5G NR happen," said Neville Ray, Chief Technology Officer for T-Mobile US. "At T-Mobile, we're committed to drive a 5G rollout across the US in 2020, and the efforts of 3GPP will help us to realize this great win for our customers."

    Verizon

    "Verizon is delighted that the 3GPP is moving quickly to release a global standard for mobile 5G," said Ed Chan, Chief Technology Architect and Network Planning. "With this important 3GPP milestone, Verizon is once again well positioned to deliver next-generation technology to customers just as we did with 4G LTE."

    Vodafone

    Luke Ibbetson, Head of Vodafone Group R&D said: "Completion of the 5G standard six months earlier than originally anticipated is a significant milestone that should enable compliant network infrastructure and phones to be delivered in line with our requirements. This first version of 5G will build on the success of 4G, providing fast and highly efficient mobile broadband services to our customers and setting the foundation for the Gigabit Society."

    ZTE

    Mr. Xu Huijun, CTO of ZTE Corporation, said: "The completion of the Non-Standalone 5G NR standardization is a critical milestone in the industry. I really appreciate 3GPP's efforts in meeting this challenging schedule. As one of the contributors to the 5G standards-making process, ZTE will partner with the fellow mobile industry players to commit to accelerating the 5G NR large-scale trials and deployments."

    About Fujitsu Ltd

    Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 155,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.5 trillion yen (US$40 billion) for the fiscal year ended March 31, 2017. For more information, please see http://www.fujitsu.com.

    * Please see this press release, with images, at:
    http://www.fujitsu.com/global/about/resources/news/press-releases/

    Contact:
    Fujitsu Limited Public and Investor Relations Tel: +81-3-3215-5259 URL: www.fujitsu.com/global/news/contacts/

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    TOKYO, Dec 21, 2017 - (JCN Newswire) - Mitsubishi Corporation (MC) today announced that it is entering into a business alliance with Vegetalia, Inc., a start-up venture which specializes in the provision of information and communication technology (ICT)-related services for the agricultural sector. MC is also providing Vegetalia with a third-party investment in the amount of 500 million yen.

    In line with overall demographic trends, Japan's farming population is aging and decreasing rapidly, and the next few years, it is projected, could see the largest drop ever in the number of agricultural producers. In order to remain competitive in agriculture, including catching up with trends in upscaling and supplementing the insufficiency of successors, Japan will need to increase productivity and efficiency on the fields, ensuring that industry know-how is adequately passed on to future generations, while at the same time honing the skills of up and coming farmers. Through its investment in Vegetalia, a solution-driven ICT company utilizing artificial intelligence (AI) and Internet of Things (IoT) in farming, MC aims to tackle challenges in agriculture, integrating agricultural ICT with its network and knowledge in agribusiness.

    Vegetalia is a next-generation food and agriculture venture that utilizes the latest plant science and ICT to provide solutions for the agricultural sector. Solutions offered by Vegetalia include: "Field Server," an IoT tool that allows farmers to monitor their farm lands using sensors; "Paddy Watch," a water management system for rice fields; and "agri-note," a cloud-based system that supports farm management and reporting through the use of maps and aerial photos. Vegetalia has also opened the "Vegetalia Plant Clinic"(1), a service that integrates expertise of plant science specialists, the first private sector initiative of its kind in Japan. Overall, Vegetalia is a pioneer in the use of ICT in Japan and has established itself as a leader in creating innovation in the agricultural sector. Going forward, Vegetalia intends to work with agricultural producers and agribusiness enterprises(2) to put the data accumulated through these solutions to use, leveraging Big Data to build a mutually beneficial agricultural ICT platform.

    MC holds a diversified business portfolio in the agricultural sector, spanning from inputs such as fertilizers and agricultural chemicals, to equipment and agricultural produce. The new alliance is a function of this background, whereby MC leverages its wide customer base and industry knowledge developed over the years to help expand the reach of Vegetalia's ICT solutions. By facilitating the generation of Big Data and promoting new alliances with agribusiness enterprises, MC will accelerate the formation of the ICT platform. Joining forces with Vegetalia, MC will utilize AI/IoT to comprehensively extract and visualize information such as soil, farm activity, and plant growth, facilitating the transformation of the agricultural sector into an information industry.

    Through optimizing agricultural practices, improving profitability for agricultural producers, and enhancing capabilities to procure and provide agricultural produce in accordance with consumer needs, MC aims to further strengthen its agribusiness operations, and contribute to the larger realization of sustainable growth in agriculture.

    (1) Vegetalia Plant Clinic is a registered trademark of the University of Tokyo
    (2) Agri-business enterprises include manufacturers of agricultural materials and farming equipment, agricultural products retailers and food manufacturers.

    About Mitsubishi Corporation

    Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.

    Contact:
    Mitsubishi Corporation Telephone: +81-3-3210-2171 Facsimile: +81-3-5252-7705

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    - Criteria for Success at 12-Month Analysis of ADCOMS Not Met
    - Study to Remain Blinded Per Protocol Until Final Readout of Comprehensive 18-Month Data

    TOKYO, Dec 22, 2017 - (JCN Newswire) - Eisai Co., Ltd. and Biogen Inc. announced today that an Independent Data Monitoring Committee has determined that BAN2401, an anti-amyloid beta protofibril antibody, did not meet the criteria for success based on a Bayesian analysis at 12 months as the primary endpoint in an 856-patient Phase II clinical study (Study 201). Following the predefined study protocol, the blinded study will continue, and a comprehensive final analysis will be conducted at 18 months seeking to demonstrate clinically significant results. The results of the final analysis are expected to be obtained during the second half of 2018.

    Study 201 (ClinicalTrials.gov identifier NCT01767311) is a placebo-controlled, double-blind, parallel-group, randomized study in patients with prodromal or mild Alzheimer's disease (collectively known as early Alzheimer's disease) and with positive biomarkers for brain amyloid pathology. The study design included 16 interim analyses that assessed potential for futility or stopping for safety. Neither of these conditions was met and the study continues to a full analysis at 18 months. The efficacy of five dose groups of BAN2401 was evaluated at 12 months based on Eisai's in-house developed novel endpoint Alzheimer's Disease Composite Score (ADCOMS). According to the Bayesian analysis at 12 months, success was judged as an 80% or higher probability of achieving a Clinically Significant Difference (CSD: a 25% or greater reduction in the rate of decline in ADCOMS compared to placebo).

    In the final analysis at 18 months, a comprehensive evaluation which includes assessing changes from baseline in the clinical evaluation indicators ADCOMS and Clinical Dementia Rating Sum of Boxes (CDR-SB), as well as changes in biomarkers such as brain amyloid levels as measured by amyloid PET and total hippocampal volume using vMRI, will be assessed.

    "By using Bayesian statistics in this uniquely-designed trial we had hoped that it would enable us to demonstrate clinical success faster than more traditional study designs. We now await the final study analysis which will be conducted after 18 months of treatment, which represents an amount of treatment time that is considered as appropriate for assessing efficacy in disease modifying agents for Alzheimer's disease," said Lynn Kramer, MD, Chief Clinical Officer and Chief Medical Officer, Neurology Business Group, Eisai.

    BAN2401 is a humanized monoclonal antibody for Alzheimer's disease that is the result of a strategic research alliance between Eisai and BioArctic AB. Since March 2014, Eisai and Biogen have been jointly developing BAN2401.

    Eisai and Biogen have a wide reaching collaboration to develop and commercialize Alzheimer's disease treatments.

    About BAN2401

    BAN2401 is a humanized monoclonal antibody for Alzheimer's disease that is the result of a strategic research alliance between Eisai and BioArctic. BAN2401 selectively binds to neutralize and eliminate soluble, toxic Abeta aggregates that are thought to contribute to the neurodegenerative process in Alzheimer's disease. As such, BAN2401 may have the potential to have an effect on disease pathology and to slow down the progression of the disease. Eisai obtained the global rights to study, develop, manufacture and market BAN2401 for the treatment of Alzheimer's disease pursuant to an agreement concluded with BioArctic in December 2007. In March 2014, Eisai and Biogen entered into a joint development and commercialization agreement for BAN2401 and the parties amended that agreement in October 2017.

    About Study 201 (ClinicalTrials.gov identifier NCT01767311)

    Study 201 is a placebo-controlled, double-blind, parallel-group study to evaluate safety, tolerability and efficacy of BAN2401 in patients with prodromal or mild Alzheimer's disease (collectively known as early Alzheimer's disease) and with positive biomarkers for brain amyloid pathology, using Bayesian Adaptive Randomization Design which allows for automatic changes to the design during the study, including adaptively changing the subject allocation ratio to treatment arms with higher probabilities based on the results of interim analyses in order to more efficiently identify the effectiveness and optimal dose regimen of BAN2401. The study will explore efficacy and the dose response of BAN2401 with 16 interim analyses for early success, a 12-month evaluation based on ADCOMS and an 18-month comprehensive assessment of treatment with placebo or 5 active arms. The 5 treatment arms consist of 3 dose levels (2.5 mg/kg, 5 mg/kg, 10mg/kg) given biweekly and 2 dose levels (5 mg/kg, 10 mg/kg) given monthly.

    After 12 months of treatment, change from baseline in the ADCOMS is evaluated. In the final analysis at 18 months, comprehensive evaluation including changes from baseline in ADCOMS and Clinical Dementia Rating Sum of Boxes (CDRSB), as well as changes in brain amyloid levels as measured by amyloid PET and in total hippocampal volume using vMRI, will be conducted.
    About the Joint Development Agreement between Eisai and Biogen for Alzheimer's Disease
    Eisai and Biogen are widely collaborating on the joint development and commercialization of Alzheimer's disease treatments. Eisai serves as the lead in the co-development of elenbecestat*, a BACE inhibitor, and BAN2401, an anti-amyloid beta (Abeta) protofibril antibody, while Biogen serves as the lead for co-development of aducanumab, Biogen's investigational anti-amyloid beta (Abeta) antibody for patients with Alzheimer's disease, and the companies plan to pursue marketing authorizations for the three compounds worldwide. If approved, the companies will also co-promote the products in major markets, such as the United States, the European Union and Japan.
    As to BAN2401 and elenbecestat, both companies will equally split overall costs, including research and development expenses. Eisai will book all sales for elenbecestat and BAN2401 following marketing approval and launch, and profits will be equally shared between the companies.

    Under a new agreement between the parties that was effective October 22, 2017, Biogen will remain solely responsible for all development costs for aducanumab until April 2018, and Eisai will reimburse Biogen for 15 percent of expenses from April 2018 through December 2018, and 45 percent from January 2019 onwards. Regarding the respective share of profits from potential sales of aducanumab following commercialization, Biogen will receive 55 percent of the potential profits in the United States and 68.5 percent of the potential profits in Europe while Eisai will receive 80 percent of the potential profits in Japan and Asia (excluding China and South Korea). The companies will have a 50:50 co-promotion split of potential profits in the rest of the world. Furthermore, Biogen will book sales in the United States, Europe, and rest of world markets while Eisai will book sales in Japan and Asia (excluding China and South Korea). *The generic name is not yet fixed at this time.

    About BioArctic AB

    BioArctic AB is a Swedish research based biopharma company focusing on disease modifying treatments and reliable biomarkers and diagnostics for neurodegenerative diseases, such as Alzheimer's disease and Parkinson's disease. The company also develops a potential treatment for Complete Spinal Cord Injury. BioArctic focuses on innovative treatments in areas with high unmet medical needs. Collaborations with universities are of great importance to the company together with our strategically important global partners in the Alzheimer (Eisai) and Parkinson (AbbVie) projects. The project portfolio is a combination of fully funded projects run in partnership with global pharmaceutical companies and innovative in-house projects with significant market- and out-licensing potential. www.bioarctic.com

    About Biogen

    At Biogen, our mission is clear: we are pioneers in neuroscience. Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases. Founded in 1978 as one of the world's first global biotechnology companies by Charles Weissman, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp, today Biogen has the leading portfolio of medicines to treat multiple sclerosis; has introduced the first and only approved treatment for spinal muscular atrophy; and is focused on advancing neuroscience research programs in Alzheimer's disease and dementia, neuroimmunology, movement disorders, neuromuscular disorders, pain, ophthalmology, neuropsychiatry, and acute neurology. Biogen also manufactures and commercializes biosimilars of advanced biologics.

    We routinely post information that may be important to investors on our website at www.biogen.com. To learn more, please visit www.biogen.com and follow us on social media - Twitter, LinkedIn, Facebook, Youtube.

    About Eisai

    Eisai Co., Ltd. (TSE:4523; ADR:ESALY) is a research-based human health care (hhc) company that discovers, develops and markets products throughout the world. Eisai focuses its efforts in three therapeutic areas: integrative neuroscience, including neurology and psychiatric medicines; integrative oncology, which encompasses oncotherapy and supportive-care treatments; and vascular/immunological reaction. Through a global network of research facilities, manufacturing sites and marketing subsidiaries, Eisai actively participates in all aspects of the worldwide healthcare system. For more information about Eisai Co., Ltd., please visit www.eisai.com.

    Contact:
    Biogen Inc. Public Affairs Tel: +1-781-464-3260 Eisai Co., Ltd. Public Relations Department Tel: +81-(0)3-3817-5120

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Jointly build "human-centric" innovative solutions to transform the ways people work by combining their respective AI technologies

    TOKYO, Dec 22, 2017 - (JCN Newswire) - Fujitsu Limited and Microsoft Corporation today announced their agreement to collaborate in the field of artificial intelligence to accelerate the transformation of the ways people work in companies.

    The two companies are entering into this agreement to jointly build new solutions that transform the ways people work. Based on Microsoft 365(1), Microsoft's integrated cloud service, these new solutions will combine the insights and experience Fujitsu has accumulated through the internal and external deployments of its Global Communication Platform, together with Fujitsu's AI technology, Fujitsu Human Centric AI Zinrai, and Microsoft AI platform services on Microsoft Azure. They aim to make these new solutions available in the Japanese market from the second quarter of 2018 (April to June), and then to roll them out globally thereafter.

    Collaboration Background

    Since entering a global alliance in the field of corporate solutions in 2002, Fujitsu and Microsoft have expanded the scope of collaboration in line with a changing market, including in such areas as the cloud and IoT for manufacturing. Since 2015, the two companies have been building a strong collaboration in the field of work-style transformation, with Fujitsu, through technical assistance from Microsoft, deploying a globally unified communications platform based on Office 365 for its approximately 160,000 employees. It then began using the knowledge and experience gained from that internal deployment to make its Global Communications Platform available to about 1.5 million customers in Japan.

    Now, as the movement to increase productivity using rapidly advancing digital technology gains traction globally, Fujitsu and Microsoft have agreed to further expand the framework of their collaboration, jointly building and launching solutions that further transform the ways people work by using the two companies' services and AI technologies.

    Collaboration Overview

    Fujitsu and Microsoft will jointly build new solutions that further transform the ways people work by combining a myriad of big data accumulated by companies, including Microsoft 365 data on Microsoft Graph(2), with services such as Human Centric AI Zinrai, Fujitsu's AI technology, as well as Microsoft AI platform services on Microsoft Azure, and Microsoft 365.

    Moreover, the two companies will conduct internal trials of the jointly built solutions in several countries, accumulating knowledge and experience to enhance quality and deployment. The solutions will then be made available in the Japanese market beginning between April and June 2018 through Fujitsu Cloud Service K5 and Microsoft Azure. They will then be rolled out globally.

    Customer Value from the Jointly Built Solutions

    1. Focus on creative work, generating high added value

    Big data generated through use of Microsoft 365 is aggregated through Microsoft Graph, and Microsoft MyAnalytics and Microsoft Workplace Analytics(3), etc. visualize the usage status of email and calendars, which had in the past lacked visibility. Zinrai AI technology distinguishes the importance and priority of tasks mentioned in the body of an email, and encourages users to perform important tasks. This helps users quickly handle high priority tasks, enabling them to focus on creative work, such as idea generation, which can lead to higher added value.

    2. Automate and streamline routine tasks leveraging AI

    Automation and streamlining of tasks is achieved by combining Microsoft Cognitive Services and Microsoft Azure Bot Service with Fujitsu's conversational AI technology and the Zinrai natural language analysis API, offering a more human-centric user experience. For example, in setting up a meeting, the conversational AI technology is able to search for an open timeslot shared among the participants, and list up candidate dates and times, meeting formats, and venues in consideration of participants' convenience.

    3. Eliminate silos and discover the right person, insights and network

    Using the connections among people or things is considered an effective way to find exceptional human resources or valuable documents within organizations. To this end, Knowledge Graph(4) is used as a base of knowledge that expresses in graph form the relationships among people or things. Furthermore, when the characteristics of such relationships are analyzed by Zinrai AI technology, and this is applied to Knowledge Graph, it becomes possible to discover outstanding human resources and meaningful documents, offering the ability to effectively utilize information, such as in selecting the most suitable team members when launching a project.

    4. Analyze the drivers of productivity and motivation comparing people, teams, and companies

    Users of Microsoft MyAnalytics and Workplace Analytics etc. can visualize the ways both individuals and teams work. Moreover, by combining and benchmarking Knowledge Graph and Fujitsu Laboratories-developed Deep Tensor(5) machine learning technology, which enables highly accurate analysis of graph-structured data, these solutions can provide insight into how high-performance individuals, organizations and companies are working. It can also enable an understanding of the important factors behind such performance, and lead to true transformation of the way people work.

    Future Plans

    In order to expand sales of the jointly built solutions, the two companies will not only be offering consulting services aimed at deployment, but are also considering to run experience courses, to be held at the Fujitsu Digital Transformation Center located in Minato-ku, Tokyo, Fujitsu's co-creation workshop space aimed at achieving digital transformation, and the Microsoft Technology Center located in Minato-ku, Tokyo, a facility where visitors can experience Microsoft's latest technologies.

    http://www.acnnewswire.com/topimg/Low_FujitsuMicrosoft122217.jpg

    The two companies will also be jointly working at new customer development, primarily of existing users of Office 365 and Microsoft 365, and aim to develop a new 2 billion US dollars of new business in the global market by 2020.

    Comment from Shingo Kagawa, SEVP and CTO, Fujitsu Limited

    As AI's presence in customer workplaces has grown, Fujitsu has been working to increase the wellbeing of people through technology, as part of our concept of "Human Centric AI". This collaboration with Microsoft in AI will bring our relationship into a new phase, and I believe it demonstrates the fruits of digital co-creation. In order to create a prosperous future, we will work with Microsoft to generate new innovation.

    Comment from Judson Althoff, Executive Vice President, Worldwide Commercial Business, Microsoft Corporation

    "Expanding our collaboration with Fujitsu provides customers with yet another way to take advantage of the powerful and intelligent digital capabilities of our platform to drive more collaboration and creativity," said Judson Althoff, executive vice president of Worldwide Commercial Business at Microsoft. "Through integrations across our productivity suite and Fujitsu's unique industry expertise, customers will have more tools to create and collaborate."

    (1) Microsoft 365
    An intelligent, integrated solution that enhances creativity and teamwork, maximizing the performance of individuals and organizations, and helping them work in a safe and secure environment. Microsoft 365 consists of Office 365, Windows 10 and Enterprise Mobility + Security, the ID-based security solution.
    (2) Microsoft Graph
    An API which enables users to access the big data generated through use of Microsoft 365, including mail, calendar, contacts, documents, directory and devices. Of Fortune 500 companies, 85% are already able to use Microsoft Graph. Storing 8 Trillion data objects, users can access through Microsoft Graph API based on access privileges.
    (3) MyAnalytics / Workplace Analytics
    Analytics services within Office 365, which enable users to obtain key insights for their workstyle by visualizing their workstyle based on Microsoft Graph. For example, users can see how long they spend on meetings and email, minimize the waste of time and accelerate the collaboration for greater workstyle with higher values.
    (4) Knowledge Graph
    A dataset that uses connections representing relationships between information collected from a variety of information sources.
    (5) Deep Tensor
    Fujitsu Technology to Elicit New Insights from Graph Data that Expresses Ties between People and Thing (press release, October 20, 2016):

    About Microsoft Corporation

    Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

    About Fujitsu Ltd

    Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 155,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.5 trillion yen (US$40 billion) for the fiscal year ended March 31, 2017. For more information, please see http://www.fujitsu.com.

    * Please see this press release, with images, at:
    http://www.fujitsu.com/global/about/resources/news/press-releases/

    Contact:
    Microsoft Japan Co., Ltd. Corporate Communications Group E-mail: mskkpr@microsoft.com Fujitsu Limited Public and Investor Relations Tel: +81-3-3215-5259 URL: www.fujitsu.com/global/news/contacts/

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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    Aims Set on Enhancing Competitiveness and Expanding Business Scale

    TOKYO, Dec 22, 2017 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) and its wholly owned Group company Mitsubishi Heavy Industries Machine Tool Co., Ltd. (MAT) have reached a basic agreement with JTEKT Corporation to commence discussions toward forming a business partnership, including capital participation, in the field of machine tools and precision tools.

    By pooling their respective management resources, the three companies seek to enhance their competitiveness in the market for machine tools and expand their business scale. Their shared aim now is to agree on the conditions necessary to forming a tie-up, and conclude a formal agreement, by July 31, 2018.

    Going forward, by integrating their respective areas of proven strength through a formal partnership, MHI, MAT and JTEKT look to pursue synergies in technology, marketing and cost competitiveness, to achieve their further business development.

    About Mitsubishi Heavy Industries, Ltd.

    Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, is one of the world's leading industrial firms with 80,000 group employees and annual consolidated revenues of around 38 billion U.S. dollars. For more than 130 years, the company has channeled big thinking into innovative and integrated solutions that move the world forward. MHI owns a unique business portfolio covering land, sea, sky and even space. MHI delivers innovative and integrated solutions across a wide range of industries from commercial aviation and transportation to power plants and gas turbines, and from machinery and infrastructure to integrated defense and space systems.
    For more information, please visit the MHI Group website: http://www.mhi-global.com.
    For Technology, Trends and Tangents, visit MHI's new online media SPECTRA: http://spectra.mhi.com.

    Contact:
    Mitsubishi Heavy Industries, Ltd. Joseph Hood, PR Manager Email: mhi-pr@mhi.co.jp Tel: +81-(0)3-6716-2168 Fax: +81-(0)3-6716-5860

    Copyright 2017 JCN Newswire. All rights reserved. www.jcnnewswire.com

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