Three Japanese motor manufacturers, Hitachi, Fuji Electric and Meidensha, have formed a joint venture to produce high-voltage motors, and small to mid-sized generators. The companies say that they have joined forces to counter the declining demand and falling prices for these machines.

Hitachi will have a 40% stake in the new subsidiary, Japan Motor & Generator, with Fuji and Meidensha holding 30% each. The headquarters will be based at a Hitachi site. The first products are due from the new operation by the end of the year. Marketing and maintenance services will be handled by the parent companies.