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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.42+1.9%Dec 19 9:30 AM EST
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To: Zoltan! who wrote (30978)1/5/2000 10:00:00 PM
From: Techplayer  Read Replies (1) of 77400
 
By CBS MarketWatch
Last Update: 7:34 PM ET Jan 5, 2000

TOKYO (CBS.MW)--Cisco Systems Inc. (CSCO: news, msgs) will invest $490 million in its operations here over the next three years through its Japanese subsidiary, The Nihon Keizai Shimbun learned Wednesday. The major U.S. maker of communications equipment hopes to improve the quality of its products used to construct e-commerce communications infrastructure and secure their stable supply. The firm expects e-commerce to expand sharply in Japan. Nihon Cisco Systems KK will establish its first research and development base in Tokyo by the end of December to conduct R&D and connection tests designed to improve the reliability of communications networks. The Japanese subsidiary of Cisco Systems believes it is indispensable to have an R&D support system close to customers if it is to win major clients such as government offices and Nippon Telegraph and Telephone Corp. (NTT: news, msgs) group companies. The company will double the floor space of its distribution facility in Tokyo to 2,400 sq. meters over three years. It needs to expand storage capacity to ensure stable supply of its products, which are imported from the U.S. The Japanese unit also plans to increase its work force to 1,000 during the period, from 350 at the end of December. The firm aims to triple annual sales to 300 billion yen in the year through July 2002. Nihon Keizai Shimbun
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