With five other licensees in Europe and the US, this deal marks the first for TIR in the other major lighting market, Japan. Daiko is the second largest company in Japan entirely dedicated to manufacturing and marketing lighting fixtures, and had 2005 revenues of ¥276 billion (US$250 million).
Shinji Maeshiba, President of Daiko, states, “Upon seeing the Lexel, we were convinced that this technology is a very good fit for the Japanese market. We are pleased that we were able to reach an agreement with TIR Systems to develop new products that will take advantage of the high quality illumination and precise control offered by the Lexel."
Leonard Hordyk, president & CEO of TIR Systems, said "We are honored to be working with Daiko Electric to develop Lexel-based products for the Japanese market. Daiko’s long history, large market share, and well established reputation in the retail, museum, and residential lighting segments, make it an ideal partner for TIR."
Daiko Electric Company is a fully integrated supplier of lighting solutions for the commercial and residential lighting markets in Japan. The company employs over 700 people and sells over 10,000 lighting products. In addition, the company has a dedicated group of lighting experts, the Total Advance Creative Team (TACT), who work with clients to create lighting designs and develop complete product solutions.