Asian Activities Report for January 6, 2012: Haier Group (SHA:600690) and LIXIL Corporation Set Up a New Factory in China

Sydney, Jan 6, 2012 AEST (ABN Newswire) - Haier Group (SHA:600690) and Japan-based LIXIL Corporation have set up a joint venture company in Qingdao, China, to be engaged in the manufacturing and sales of building materials and housing equipment. The new company will utilise LIXIL's production technologies and development capabilities to initially produce kitchen systems, with plans to further expand product range. Operation is expected to commence in the summer of 2012, and products will be sold through Haier Group's extensive distribution network in China.

Tokyo Stock Exchange Group has filed a notification to the Japan Fair Trade Commission regarding its merger plan with Osaka Securities Exchange. The two exchanges are seeking anti-monopoly clearance for their proposed business combination and restructuring.

KOSÉ Corporation (TYO:4922) has successfully developed "Broad-Spectrum Sunscreen Cosmetics" that have been proven to prevent the aggravation of photosensitive dermatitis, in addition to the effectiveness of skin protection against sunburn and suntan. This new sunscreen contains highly effective ultraviolet absorbers, some of which have a stronger capability to absorb in the UV-A range, and therefore provides higher UV protection than existing sunscreen products in the market.

Mitsubishi Corporation (TYO:8058) and India's fertiliser manufacturer Zuari Industries Limited (BOM:500780) have formed a joint venture to invest in rock phosphate assets in Peru. The Joint venture has acquired 30% stake in mining company Fosfatos del Pacifico, a subsidiary of Peru's second largest cement producer Cementos Pacasmayo for US$46.12 million. Additionally, the joint venture company has agreed to purchase rock phosphate concentrates from Fosfatos for 20 years.

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