Tokyo, Nov. 16.
An extensive plan for a new '¥.450,000.000 semi-official holding company, which will be with a monopoly in the development of heavy industries in" Manchoukuo, was explained to-day by its future head. Mr. Gisuke Alyukawa, presi dent, of the ¥.200,000,000° Japan Industrial Company.
He returned here on November 4 after a tour of Manchoukuo, Mr. Alyukawa said the frst enterprise undertaken by the new company is the development of the Iron, manufacturing industry, to be followed by management of coal. gold, Tead and other light ectal Industries.
For this, most of the shares of the Showa Steel Manufacturing Works is being taken over by the new company. He hoped iron mines in Tungplentao near the Korean border also would be exploited.
Operation of the motor car and aircraft industries by the company will be delayed because these need raw materials and machines _imported from abroad, and preparation requiring two years at least.
Tavestments from abroad. he said, would be welcomed including such from, America, Germany, Italy and other" countries.
"In the near future," Mr, Aiyukawa concluded. "the capital of the com~ pany may be increased to Y.1,000,- 000,000, but at present the capital willie suflcient for operation of Industries in Manchoukuo,"—Domel.
Text read from the printed page and cleaned; old type leaves the occasional error.