U.S. investors Ripplewood Holdings LLC will set up an e-commerce joint venture in industrial materials with Andersen Consulting, Ripplewood officials said Friday.
The new firm will start operations in the first half of 2001, launching an electronic marketplace of materials for plants of steel and electrical machinery makers, the officials said.
Toshiba Corp. is expected to acquire a stake in the joint venture, which is likely to be named Supply Japan.com. Nippon Steel Corp. and steel product trader Okaya & Co. are also considering capital participation, they said.
Nippon Steel will be in charge of building an e-commerce computer system for the venture, the officials said.
A wide variety of industrial products will be available at the marketplace, ranging from general-purpose manufacturing and safety tools to paint, they said.
Ripplewood and Andersen Consulting hope that a number of companies will take part in the venture attracted by lower material procurement costs, the officials said.
Ripplewood purchased the failed Long-Term Credit Bank of Japan, currently Shinsei Bank, and the group aims to expand its investment business in Japan by carrying out capital participation in unlisted firms and benefiting from their future listings.
Ripplewood hopes e-commerce of industrial materials among companies will produce high returns because of its growth potential.
Mazda goes online
Mazda Motor Corp. created a new office Friday to strengthen its Internet-related business strategy and accelerate its implementation, the automaker said.
Mazda said it wants to be the e-business leader in the Japanese automotive industry by unifying and promoting online business through the e-Business Enabling Office.
The new office will cooperate with Ford Motor Co. to develop e-business on a global scale, it said.
Ford holds a 33.4 percent stake in Mazda.