New Concept, NEC, Others Set Up JV In Hainan

New Concept, and a Hainan University subsidiary have established Hainan New Concept Information System in Hainan.

Capitalized with 67 million yen, the new company is owned 52.2% by New Concept, 14.9% by SOLXYZ, 14.9% by NEC, and 18.0% by the Chinese company. The joint venture will initially employ 50 people, develop software, and provide cost-efficient offshore support for Japanese companies. Starting operations on October 1, the new company will increase its workforce to 180 by 2007 through support from New Concept.

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