Hitachi, Toshiba and Fujitsu join for HDD venture?

Tokyo (Japan) - Hitachi is rumored to be in talks with Toshiba and Fujitsu to launch a new joint venture dedicated to the hard drive market, according to media reports.

Each company would own an equal part in the company, reports Cnet, and it would allow Hitachi and Toshiba’s hardware sectors to combine forces with the storage system infrastructure of Fujitsu.

Hitachi, the instigator of the new proposal, is reportedly going to the two other Japanese giants after it was unable to reach a private equity buyout deal with Silver Lake equity.

The Japanese business year begins on April 1, and it has been suggested that if this proposal actually materializes, it will happen before that date.