In an interview with The Financial Express, Aiwa Co president Yoshio Ishigaki said: "We should be the second largest audio company by the year end." The company is also looking at achieving turnover of $5 billion by year 2001, he added. Ishigaki is currently on a visit to the country.

Aiwa is currently a leading player in the mini systems segment. However, in other segments, particularly the general audio segment, it lags behind players like Sony, Matsushita and Philips.

Elaborating on Aiwa's global plans, Ishigaki said: "We aim to be number one player in audios but I don't know how long it will take us to get there as Sony expects to be the top player always."

Referring to the company's targets for the visual products business, Ishigaki said televisions market is very competitive and that Aiwa had a dominant sharein Japan in the small and medium screen sizes. He added that Aiwa would concentrate in selling televisions in the 14-inch to 21-inch screen sizes in India too. The Aiwa president further stated that the company was gearing up to meet the challenges of convergence of technologies. Additionally, the company is actively diversifying into other areas such as computing and communications. At present, the computer business contributes just about 10 per cent of the company's turnover.

"Audios and visuals have been our areas of core competence. We will continue focus on these areas but we intend to increase our presence in computer and communication related businesses," Ishigaki said. On Aiwa's plans for India, Ishigaki said, the Japanese company will provide all the technology and support necessary to manufacture world class products here. He added that his firm saw tremendous business opportunity in the Indian market to establish the Aiwa brand. Aiwa had entered into a marketing and manufacturing alliance withBaron Electronics late August this year.

Baron Electronics has been permitted to assemble and market Aiwa televisions, audio and video compact disc (VCDs). On taking up equity in Baron Electronics, Aiwa president said that there were no immediate plans.

However, if there was any need and if the Mulchandanis of Baron was keen to induct foreign equity, Aiwa could consider taking a stake in the company, he added. "Our most important investment would be shifting our know-how to the Baron Electronics factory."

He added that the company may also consider exporting products from India to other markets. "The cost factor and quality of components would be the deciding factor," Ishigaki stated.