A friend of mine in the business area showed me this link. I have copied the text for us modellers to look at.
Premier toy and model manufacturer Tamiya has agreed to merge with its main rival Hasegawa Model Works. The merger will allow Tamiya to access to much larger range of mouldings that Hasegawa owns and Hasegawa will be able to access the radio control technology Tamiya has built up in the last thirty years. The 20 billion yen merger will occur on August 6 this year and will be subject to acceptance by 90% of the shareholders in the two companies. The name of the merged company will be Tamiya-Hasegawa Enterprises and will trade under the popular name Tamigawa.
Tamiya CEO Tonishka Tamiya stated "this is an important merger for the model making business, as you know the market is very mature and the room for organic growth is very limited. The combination of the two companies will allow us to dominate the model making market around the world by being its number one player and also provide the shareholders with other strategic benefits."
Hasegawa CEO Hinamaru Hasegawa agreed with Mr Tamiya and added " our combined strength will lead to world domination, something we have been dreaming about for some time."
The news of the merger added over 2000 Yen to the value of Tamiya and Hasegawa shares on the Japanese sharemarket.