Sanitary earthenware manufacturer Toto Ltd. and building materials maker Matsushita Electric Works Ltd. said Wednesday they have agreed to form a comprehensive alliance in the housing and building markets.
The two firms will jointly research and develop products to boost demand in the markets and provide materials and parts to each other. They will also strengthen cooperation in expanding operations abroad, including in China.
The companies will begin to work out details of the arrangement later this month by bringing together experts from both sides, with specific plans expected by the end of the year, they said.