HP Gains Complete Ownership Of Japanese Subsidiary From Yokogawa

Hewlett-Packard Co. (HP; Palo Alto, CA) and Yokogawa Electric Corp. (Tokyo) have reached an agreement under which Hewlett-Packard Japan (HPJ) will become a 100%-owned HP subsidiary. HP currently owns 75% of the outstanding shares of HPJ, while Yokogawa owns 25%.

HPJ was founded in 1963 as a joint venture between HP and Yokogawa, with Yokogawa owning 51% and HP 49%. The company was formed to manufacture and market HP's high-frequency-measurement instruments in Japan. As a result of the business growth and diversification, the two parent companies agreed to change the ownership structure of the company in 1983, at which time HP became the majority owner of the company.

Yokogawa Analytical Systems (YAN), which was established as a separate joint venture between the two companies in 1992 to serve customers in chemical-analysis fields, will continue with its current business charter.

Yokogawa Electric Corp. is dedicated to promoting the quality, efficiency, and profitability of enterprise customers around the globe by providing total solutions in addition to supplying leading-edge instruments and control systems.

Hewlett-Packard Co. is a global provider of computing and imaging solutions and services for business and home. HP plans to launch a new company consisting of its test-and-measurement, semiconductor products, chemical-analysis, and medical businesses.

For more information, call Marlene Somsak of Hewlett-Packard at 650-857-6805, or e-mail marlene_somsak@hp.com.