TOKYO (dpa-AFX) - Homeserve Plc (HSV.L), a home repairs and improvements business, Thursday said it has signed an agreement with Japanese conglomerate Mitsubishi Corp. (MBC.L, MSBHY.PK) to establish a joint venture in Japan.
HomeServe and Mitsubishi will each make an initial cash investment of 2 million pounds into the JV.
The JV will be called HomeServe Japan Corp. and will be 50:50 owned by HomeServe and Mitsubishi. HomeServe Japan will build a business to provide home emergency and repair services in electrics, plumbing, gas, heating, ventilation and air conditioning. The business will be based on a Membership model, and will also offer on-demand services to residential customers.
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