JUKI Corporation and PEGASUS Sewing Machine Mfg. Co., Ltd. – two Japanese sewing technology giants – had earlier entered into a basic business alliance agreement on 26 April 2021.
Both the companies pledged their commitment to move forward with business collaboration in the sales and development fields, and have been working out the details of the collaboration in the months since.
In the latest development, both JUKI and PEGASUS have now reached an agreement on joint sales and have caused a basic transaction agreement to be executed as of 1 October 2021.
The companies agree to launch joint sales in several emerging markets, effective immediately (in October), under the agreement. They will also be collaborating to expand the number of countries (territories) covered by the agreement from next year.
As per JUKI, the collaboration will strive to provide more product solutions that capitalise on their respective strengths and fields of expertise in order to meet the needs of customers using sophisticated collaborative approaches.