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he added that until now the japanese have only acquired equity positions in u.s. biotechnology companies |
they are <unk> onto developed technology he said |
during the past five years japanese concerns have invested in several of the u.s. 's N independent biotechnology companies |
chugai has been one of the most active japanese players in u.s. biotechnology companies it has an equity investment in genetics institute inc. cambridge mass. and a joint-venture agreement with upjohn co. <unk> mich |
the japanese government mr. <unk> said has stated that it wants N N to N N of its gross national product to come from biotechnology products |
it is becoming more of a horse race every day between the u.s. and japan he said adding that some fear that as with the semiconductor electronics and automobile industries japanese companies will use <unk> technology to gain trade advantages |
mr. bologna said the sale would allow gen-probe to speed up the development of new technology and to more quickly apply existing technology to an array of diagnostic products the company wants to offer |
by N when only N genetic <unk> tests of diagnostic <unk> diseases of humans had been approved for marketing by the food and drug administration eight of them had been developed and sold by gen-probe |
<unk> <unk> deputy president of chugai which spends about N N of its sales on research and development was unable to pinpoint how much money chugai would pump into gen-probe |
we think gen-probe has technology important to people 's health he said adding we think it is important for us to have such technology |
he and mr. bologna emphasized that both companies would gain technological knowledge through the sale of gen-probe which will expand significantly as a result of the acquisition |
in N chugai had net income of $ N million on revenue of $ N million |
<unk> had a net loss of $ N million on revenue of $ N million |
recently gen-probe received a broad u.s. patent for a technology that helps detect identify and <unk> <unk> <unk> through the targeting of a form of genetic material called <unk> <unk> |
among other things mr. bologna said that the sale will facilitate gen-probe 's marketing of a diagnostic test for acquired immune deficiency syndrome or aids |
chugai also will help gen-probe with its regulatory and marketing expertise in asia mr. bologna said |
the tender offer for gen-probe 's shares is expected to begin next monday the company said |
it was supposed to be a routine <unk> call |
a <unk> soviet space officials in tokyo in july for an exhibit stopped by to see their counterparts at the national space development agency of japan |
but after a few <unk> the soviets unexpectedly got serious |
the soviets have a <unk> space program the guests noted |
would n't the japanese like a piece of it |
the visitors then listed technologies up for sale including launch services and <unk> hardware |
we were just surprised says <unk> <unk> <unk> 's director for international affairs |
shocked |
that moscow with its <unk> economic machine would try to sell high technology to japan one of the world 's high-tech leaders sounds like a <unk> notion |
but the soviet union has areas where it is n't behind japan says mikhail <unk> of the soviet ministry of foreign economic relations |
we have obtained through the development of <unk> the soviet space program technologies you do n't see anywhere else |
the sales pitch might n't be as <unk> as it seems |
<unk> trade relations are <unk> these days and some japanese favor <unk> their reliance on u.s. technology in light of the <unk> <unk> <unk> when u.s. officials reversed an earlier decision and refused to share certain crucial <unk> technology |
and despite its image as a technology <unk> japan has a lot of weaknesses |
it 's a world leader in semiconductors but behind the u.s. in making the computers that use those chips |
it 's a world leader in auto manufacturing but its aviation industry is struggling and its space program is years behind the u.s. the europeans and the soviets |
one question being <unk> in the soviet union is how to use the defense sector 's <unk> expertise in the rest of the economy |
many plants that used to make military equipment are now being ordered to produce <unk> videocassette recorders small <unk> and <unk> machinery |
the soviets also hope to make better use of their considerable expertise in theoretical science which has helped them win twice as many nobel science prizes as the japanese |
where they lag behind the japanese is in turning the scientific <unk> into improved production |
by contrast the japanese have proved <unk> at making use of soviet <unk> |
kobe steel ltd. adopted soviet casting technology in N and used it for N years until it developed its own system |
<unk> steel corp. bought a soviet <unk> patent two years ago and has jointly developed the system with the soviets |
in N the soviets will take a japanese journalist into space the first japanese to go into <unk> |
soviet efforts to sell their technology abroad do n't appear to worry the u.s. japan 's principal ally |
we have never opposed the development of economic relations between our allies and the soviet union says a state department official |
frankly i would n't expect the japanese to get <unk> on anybody 's technology least of all the soviets |
under mikhail gorbachev 's perestroika the soviets have sought economic ties all over the world including new export markets |
they believe technology is one of their best bets and some soviet officials say moscow will even consider <unk> military know-how if the price is right |
the soviets held export <unk> that included high-tech items in new york and west germany |
last week a soviet delegation came to japan to push more space technologies |
japan is a major target for the soviets |
in august representatives of <unk> japan 's largest business organization visited moscow to explore exports and investments that would help the soviet economy |
out of the blue the soviet chamber of commerce handed over details on N technologies that the japanese might want to buy |
these mainly involved such areas as materials advanced <unk> machines for example and medical developments derived from <unk> in space such as <unk> blood vessels |
a main motive is hard cash |
but while the soviets ca n't expect direct technology flow from japan they also hope to benefit from japanese manufacturing expertise |
the soviet union has a lot of know-how but it has been difficult to put that into actual production because of various structural problems in the economy says mr. <unk> the foreign ministry official |
the soviets are contemplating a flexible system under which it would be possible to develop technology jointly and even to market it jointly he says |
even if the japanese find soviet technology desirable such discussions would be <unk> with political <unk> |
still <unk> from the international backlash over the sale two years ago of sensitive military technology to the soviets by a subsidiary of japan 's toshiba corp. many japanese are eager to avoid appearing to help the soviets in any way |
another hurdle concerns japan 's attempts to persuade the soviet union to <unk> its <unk> war ii control of four islands north of japan |
so far the soviets have provided only the <unk> information about their technology and business plans |
and what they have shown is n't impressive |
my impression is that there is n't anything which <unk> our interest at first <unk> says an official from japan 's ministry of international trade and industry |
peter <unk> in moscow contributed to this article |
during its centennial year the wall street journal will report events of the past century that stand as milestones of american business history |
may N N signaled a <unk> may day for securities houses which were forced to end N years of charging fixed commissions |
it scared brokers but most survived |
it took effect after seven years of bitter debate between the securities and exchange commission and traders and exchanges |
despite warnings from such leaders as former federal reserve board chairman william <unk> martin that <unk> commissions would undo the industry the sec in september N said full competition must start may <unk> N |
the timing for change was right |
institutions had become active market players in the early 1970s and sought exchange seats to handle their own trades |
and the industry was <unk> with brokers trying to secure big client orders by using <unk> gifts women and <unk> |
within three weeks of the N end to fixed rates there were <unk> price wars among brokers fighting for institutional business with rate <unk> of N N to N N below <unk> N levels |
ray <unk> jr. sec chairman said the <unk> and <unk> of the discounting is more than i expected |
even a federal measure in june allowing houses to add research fees to their commissions did n't stop it |
longer term the impact is unclear |
the change prompted the rise of discount brokers and a reduction in securities research firms |
but there are currently more exchange members than in N with the bigger houses gaining a larger share of total commissions |
commissions however account for a smaller share of <unk> business as takeover advisory fees have soared |
foreign stock markets with which the u.s. is <unk> also have ended fixed commissions in recent years |
it came in london 's big bang N deregulation and toronto 's little bang the same year |
paris is currently <unk> out fixed commissions under its <unk> <unk> bang plan |
president bush said that three members of his cabinet will lead a presidential mission to poland to gauge how the u.s. can help the new <unk> government 's economic changes |
mr. bush announced several weeks ago that he intended to send such a mission composed of top government aides and business and labor leaders |
the mission will visit poland from nov. N to dec. N the white house said |
in remarks at a white house <unk> marking polish heritage month mr. bush announced that agriculture secretary <unk> <unk> commerce secretary robert mosbacher and labor secretary elizabeth dole will lead the u.s. group |
michael <unk> chairman of the council of economic advisers also will be a member |
in addition the white house said that charles harper chairman of <unk> inc. and john <unk> chairman of manufacturers hanover corp. will be among a group of at least N business and labor representatives in the presidential mission |
mr. bush said the group is to focus on economic sectors where u.s. expertise and cooperation can indeed make a difference |
mr. bush has asked congress to provide more than $ N million in economic aid and food grants for poland 's new government but has been <unk> by democrats for failing to do more |
warner communications inc. is close to an agreement to back a new recorded music and music publishing company in partnership with irving azoff who resigned in september as head of mca inc. 's mca records unit |
warner and mr. azoff declined comment as did mca where mr. azoff had also been discussing such a venture |
but record industry executives familiar with the talks said mr. azoff and warner came to an agreement yesterday to form a N joint-venture company funded by warner and run by mr. azoff |
among other things they said mr. azoff would develop musical acts for a new record label |
the agreement is said to be similar to warner 's N partnership with record and movie producer david <unk> whose films and records are distributed by the warner bros. studio and the warner records unit |
although mr. azoff wo n't produce films at first it is possible that he could do so later the sources said |
like mr. <unk> 's arrangement the venture gives mr. azoff a link to the world 's largest and most successful record distributor in the u.s. alone warner has a N N share of the market about double its <unk> competitor sony corp. 's cbs records |
for warner meanwhile it gives the company a second young partner with a finger on the <unk> of the hottest trends in the music business |
the <unk> mr. azoff a former rock <unk> roll manager is credited with turning around mca 's <unk> music division in his six years at the company |
but mr. azoff had been negotiating for more than a year to get out of his mca contract which expired in N |
mr. azoff reportedly was <unk> and frequently <unk> with top mca management over a number of issues such as compensation and business plans |
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