Ascii of Japan says it has lined up lenders

Article Abstract:

Kazuhiko Nishi, founder and president of Ascii Corp, announces that six banks have agreed to led the company 16.4 billion yen, or about $130 million, to enable it to pay off a bond that is scheduled to be redeemed in Mar 1993. Ascii, in turn, pledged to reduce hiring, eliminate unprofitable subsidiaries and cut expenses. Ascii is on the brink of bankruptcy. As part of the deal, an official from the Industrial Bank of Japan, the lead creditor, will join Ascii's management. Nishi, the flamboyant company president who founded Ascii as a college student in 1977, is expected to retain his position. Ascii has been besieged by buyout offers from American companies when news about its financial position came out. Nishi says the company might eventually need a partner.

Finance, Management, Entrepreneur, Financing, Financial Stability, Loan, ASCII Corp.

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Fujitsu joins Siemens in alliance; a cheaper mainframe is the venture's goal

Article Abstract:

Fujitsu Ltd of Japan and Siemens-Nixdorf Informationssysteme AG of Germany announce an alliance that intends to build a new line of mainframe computers that will be cheaper than existing machines. Under the agreement, Fujitsu would build the high-end and middle of the mainframe family, while Siemens will concentrate on the low end. Each can sell the other's products and would jointly develop operating system software. The new mainframes would use complementary metal oxide semiconductor (CMOS) technology, instead of the usual emitter-coupled logic (ECL) chips that are very expensive and generate so much heat. Specially designed processors by Fujitsu, not commercially available microprocessors, will be used in the new product line.

Product development, Mainframe computers, Fujitsu Ltd., Mainframe Computer, Cooperative Agreements, Siemens-Nixdorf Informationssysteme AG

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