Hitachi Ltd. said Tuesday that it will form an alliance with Clarity Group, a Los Angeles-based investment union, to operate businesses related to optical fiber components in the United States.
Hitachi and Clarity Group will set up a joint venture, OpNext Inc., later this month in the U.S., which will start operations in January.
At the same time, the Japanese electronics maker will spin off its optic component unit to create the new firm’s subsidiary, OpNext Japan Inc., later this month.
While Hitachi plans to hold a majority stake in the new firm, Clarity Group will invest up to $450 million, executives of the two firms said. Clarity Group is comprised of Clarity Partners, a U.S.-based private equity and venture capital firm, and Marubeni Group, with trading house Marubeni Corp. as a core firm.
OpNext will promote global marketing and sales of Hitachi’s optic components while its Japanese subsidiary will develop and manufacture optical transmission modules and promote domestic sales, a Hitachi official said.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.