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PASONA, TOSHIBA UNIT PLAN PLACEMENT SERVICE FOR ELEC STORES.

AsiaPulse News

| September 02, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

TOKYO, Sep 2 Asia Pulse - Major job placement agency Pasona Inc. (TSE:4332) and Toshiba Life Electronics Co., a sales subsidiary of Toshiba Corp. (TSE:6502) have established a joint venture, which will place workers at home electronics retailers and wholesalers, sources familiar with the matter said.

The two partners believe the consumer electronics retail and wholesale industry, which is estimated to employ 300,000 people, will increase its reliance on temporary staff in order to cut costs.

A job placement unit of Toshiba Life Electronics recently issued 30 million yen worth of new shares to Pasona through a third-party allocation.

As a result, Pasona holds a 60 per cent interest in the company, with the ...

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Source: HighBeam Research, PASONA, TOSHIBA UNIT PLAN PLACEMENT SERVICE FOR ELEC STORES.

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