Five major companies from different industries, including Matsushita Electric Industrial Co. and Toyota Motor Corp., are set to unite under a common brand name in a new marketing ploy, informed sources said Wednesday.
The move aims to promote more efficient advertising and the development of new potential markets, they said.
In addition to Matsushita and Toyota, Asahi Breweries, Kao Corp. and Kinki Nippon Tourist are set to join the marketing "team."
The five companies are currently preparing to adopt a new brand name that is aimed at grabbing the attention of young people. Currently "Will" is the top candidate as the name for the new brand, under which the companies say they plan to market new products to be released as early as the end of this year, according to the sources.
By forming an alliance under one name, it is expected the five companies will not only be able to shave advertising expenditures but also more effectively enhance awareness about their products.