The Nikkei said the government-backed Innovation Network Corp. of Japan (INCJ) would buy about two-thirds of Renesas for 150 billion yen ($1.9 billion) in a deal likely to be agreed next month.

Interesting, Renesas was formed from the semiconductor units of Mitsubishi, NEC, and yes Hitachi (the former parent of TCM)

Wow, is innovation the new word for bailout?

Innovation Network Corporation of Japan (INCJ) is 90% owned by the Japanese Government.

Hitachi Construction Machinery and Nissan (i.e., TCM Corporation and Nissan Forklift Co., Ltd., collectively referred to as "Subsidiaries") into a new company, UniCarriers Corporation, to be established and operated mainly by INCJ.

The voting shares of the new company will be held as follows: 53.3% by INCJ, 26.7% by Hitachi Construction Machinery and 20.0% by Nissan.

Or would it be fair to say the Japanese Government owns 47.97% of Unicarriers? More than Nissan and TCM combined?

Please correct me if I'm wrong, just trying to decompress the facts.

Where have all the cowboys gone? Where is my happy ending?

JW