Hitachi Ltd. said Thursday it will team up with water service company DK Corp. in an attempt to expand its own water business, with DK contributing its billing management knowhow.
Hitachi already engages in management and maintenance of water facilities, such as water purification, but the tieup would allow it to offer a more comprehensive water business at a time when local governments are starting to outsource their water operations, the company said.
Under the business tieup, the electronics giant said it plans to acquire a 17 percent stake in DK by October.
Hitachi, streamlining to focus on infrastructure projects, has set a fiscal 2015 sales target of ¥200 billion for its water solution business and wants to expand abroad.
“As we aim to expand water business overseas, we will strengthen the business by acquiring knowledge of billing management,” a company 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.