I ran across this article in the Yomiuri Newspaper (but I cannot find it in 
the US press) and thought you might find it interesting in light of our 
inroads into Japan.

The presidents of Tokyo Power and Chubu Power announced that in the spring, 
they and eight other Japanese power companies would merge their 
telecommunications and Internet businesses into a new company.  This company 
seems to be based on a telecommunications joint venture (PNJ Communications) 
that they formed last year.  They are hoping to get 20% of their capital from 
the American company Qwest Communications International.

It is not strange to see Japanese companies cooperating with competitors.  
Joint ventures with Western companies are still rare, but less so recently, 
given the longevity of the economic malaise in Japan, and the severe 
profitability and balance sheet problems of some Japanese companies.  
Nevertheless, as far as I know, this is the first time that power companies 
have made such an effort.  In the past, they have generally maintained 
mutually respectful local monopolies.  I think that deregulation has them 
very worried.  I imagine that they will continue with this cooperation as 
they feel more and more threatened by Enron and other Western companies.


Eugenio