Homeserve, the home repairs and improvements business, teamed up with Mitsubishi Corporation to form a joint venture in Japan to provide home emergency and repair services.
The joint venture dubbed HomeServe Japan Corporation would be equally owned by HomeServe and Mitsubishi Corporation.
HomeServe Japan Corporation would build a business to provide home emergency and repair services in electrics, plumbing, gas, heating, ventilation and air conditioning. The business would be based on a membership model, and also offer on-demand services to residential customers.
'Recent liberalisation of the gas and electricity markets (in Japan), together with access to the water market for private concessions, has created a positive environment for HomeServe's utility branded home assistance model,' Homeserve said.
At 8:04am: (LON:HSV) Homeserve PLC share price was +3p at 968.5p