Hitachi Ltd. and Omron Corp. said Monday they will set up a joint venture combining their automated-teller machine businesses, partly in the hope of grabbing a substantial share of the growing Chinese market.
The joint venture will become Japan's largest maker of ATMs, with some 40 percent of the domestic market, according to officials of the two firms.
Globally, the new entity will account for a share of around 8 percent.
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