Japanese lesson to improve manufacturing

Chinese electronics giant Hisense announced on Tuesday that it would acquire a 95 percent stake in Japan's Toshiba Visual Solutions Corp as part of its efforts to expand its global business. Under the 12.9 billion yen ($112.44 million) deal, which is likely to be completed by the end of February next year, Hisense Electric Co, the listed unit of Qingdao-based Hisense Group, will buy the TV business of Japan's struggling conglomerate Toshiba. After the transaction, Hisense will integrate the research and development wings, supply chains and global resource channels of the two companies.

Toshiba Visual Solutions is not Hisense's first global acquisition. In 2015, it purchased Sharp's TV business in Mexico and acquired Sharp America's TV line for the North and South American markets. Also, the Toshiba-Hisense deal is one of the many overseas acquisitions by Chinese enterprises in recent years, some involving much larger amounts.

But why has Hisense's latest acquisition invited so much attention despite not involving "big money"? Possibly because Japanese home appliance manufacturers once dominated the world market and "Toshiba in the new era" was a very popular advertisement in China.