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152-399: As of 2019, Dynabook Inc. had 162.9 billion yen (US$ 1.5 billion) in annual sales and 2,680 employees; as of 2020, Dynabook Americas described the business as being a "$ 60 billion global company employing nearly 200,000 in 30 countries". The company began as Kawasaki Typewriter Co., Ltd. in 1954, which in 1958 was bought by Tokyo Shibaura Electric Co., Ltd. (later Toshiba Corporation ), and

304-671: A BASIC based operating system. The original model was also sold in the United States as the Toshiba T100. Toshiba Pasopia IQ was a separate line that was MSX compatible. In 1985, Toshiba released the Toshiba T1100 , an 8-bit IBM PC compatible , which is claimed by them to be the first ever mass-market laptop computer. The company launched the Toshiba T3100 in 1986, which was 16-bit ; its Japanese variant

456-550: A call option on the remaining 19.9% of the shares on June 30, 2020, making Dynabook wholly owned by Sharp in August 2020, and indicated plans for Dynabook to have an initial public offering in 2020 or 2021. The ' dynabook ' was a portable computer concept first introduced by Alan C. Kay in the 1960s and 1970s. Tetsuya Mizoguchi, an executive in Toshiba's mainframe computer division, read Kay's paper "Personal Dynamic Media" in

608-516: A i486SX chip and featuring a built-in printer was released and achieved 3 million sales worldwide. Also in 1993, Toshiba released a pen -based tablet computer under the name DynaPad. The Satellite series was launched as a value-priced line of notebooks. In c. 1995, Toshiba launched the Tecra series which was described as their "flagship high-performance mobile computer". In September 1996, Toshiba announced its first consumer desktop computer in

760-472: A $ 50 billion company by the year 2000, or to beat I.B.M. – but they didn't have anything to do with customers. The new C.E.O. should look at everything Eckhard acquired and ask: did the customer benefit from that. If the answer isn't yes, they should get rid of it." On one hand, Compaq had previously dominated the PC market with its price war but was now struggling against Dell , which sold directly to buyers, avoiding

912-453: A $ 71 million loss for that quarter, their first loss as a company, while the stock had dropped by over two-thirds. An analyst stated that "Compaq has made a lot of tactical errors in the last year and a half. They were trend-setters, now they are lagging". Canion initially believed that the 1990s recession was responsible for Compaq's declining sales but insisted that they would recover once the economy improved, however Pfeiffer's observation of

1064-440: A chain of Mexican restaurants. Each invested $ 1,000 to form the company, which was founded with the temporary name Gateway Technology. The name "COMPAQ" was said to be derived from "Compatibility and Quality" but this explanation was an afterthought. The name was chosen from many suggested by Ogilvy & Mather , it being the name least rejected. The first Compaq PC was sketched out on a placemat by Ted Papajohn while dining with

1216-477: A company split at Toshiba Corporation, the resulting entity named Toshiba Client Solutions Co., Ltd. . In 2018, Toshiba Corporation was in the midst of an accounting scandal, and was under pressure to cut costs; Toshiba Client Solutions Co., Ltd. (TCS), the personal computer division, became 80.1% owned by Sharp Corporation, in turn majority-owned by Foxconn ; Sharp paid $ 36 million for the shares. TCS then changed its corporate name to Dynabook, Inc. Sharp exercised

1368-486: A competitive export market, and tried to ensure a low exchange rate for the yen through a trade surplus . The Plaza Accord of 1985 temporarily changed this situation; the exchange rate fell from its average of ¥239 per dollar in 1985 to ¥128 in 1988 and led to a peak rate of ¥80 against the US$ in 1995, effectively increasing the value of Japan's GDP in dollar terms to almost that of the United States. Since that time, however,

1520-502: A foodservice distributor based in Chicago, and he informed Compaq's board that he accepted the offer. Rose, senior vice president and general manager of Compaq's Enterprise Computing group, resigned effective as of June 3 and was succeeded by Tandem veteran Enrico Pesatori. Rose was reportedly upset that he was not considered for the CEO vacancy, which became apparent once Michael Capellas

1672-429: A low-priced PC could be made in half the time and at lower cost than Canion's initiative. It was also believed that Canion's consensus-style management slowed the company's ability to react in the market, whereas Pfeiffer's autocratic style would be suited to price and product competition. Rosen initiated a 14-hour board meeting, and the directors also interviewed Pfeiffer for several hours without informing Canion. At

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1824-429: A post-war recession. Coins worth 1 and 5 rin were eventually officially taken out of circulation at the end of 1953 and demonetized. Color The issuance of yen banknotes began in 1872, two years after the currency was introduced. Denominations have ranged from 1 yen to 10,000 yen; since 1984, the lowest-valued banknote is the 1,000 yen note. Before and during World War II , various bodies issued banknotes in yen, such as

1976-513: A price war that they started." Subsequent earnings releases from Compaq's rivals, Dell, Gateway, IBM, and Hewlett-Packard suggested that the problems were not affecting the whole PC industry as Pfeiffer had suggested. Dell and Gateway sold direct, which helped them to avoid Compaq's inventory problems and compete on price without dealer markups, plus Gateway sold web access and a broad range of software tailored to small businesses. Hewlett-Packard's PC business had similar challenges like Compaq but this

2128-472: A religious education program at the University of St. Thomas. Murto had helped to organize the company's marketing and authorized-dealer distribution strategy, and held the post of senior vice president of sales since June 1985. Murto was succeeded by Ross A. Cooley, director of corporate sales. Cooley would report to Michael S. Swavely, vice president for marketing, who was given increased responsibility and

2280-465: A rise in the value of the yen would hurt export growth by making Japanese products less competitive and would damage the industrial base. The government, therefore, continued to intervene heavily in foreign-exchange marketing (buying or selling dollars), even after the 1973 decision to allow the yen to float. Despite intervention, market pressures caused the yen to continue climbing in value, peaking temporarily at an average of ¥271 per US$ in 1973, before

2432-785: A risky acquisition of DEC , Compaq was acquired by Hewlett-Packard (HP) for US$ 25 billion in 2002. The Compaq brand remained in use by HP for lower-end systems until 2013 when it was discontinued. As of 2024 , the brand is currently licensed to third parties for use on electronics in Brazil and India. Compaq was founded in February 1982 by Rod Canion , Jim Harris , and Bill Murto, three senior managers from semiconductor manufacturer Texas Instruments . The three of them had left due to lack of faith and loss of confidence in TI's management, and initially considered but ultimately decided against starting

2584-493: A significant markup for more profits or discount for more sales, dealers had a major incentive to advertise Compaq. During its first year of sales (second year of operation), the company sold 53,000 PCs for sales of $ 111 million , the first start-up to hit the $ 100 million mark that fast. Compaq went public in 1983 on the NYSE and raised $ 67 million . In 1986, it enjoyed record sales of $ 329 million from 150,000 PCs, and became

2736-485: A smaller 50 yen. In 1982, the first cupronickel 500 yen coin was introduced. Alongside the 5 Swiss franc coin , the 500 yen coin is one of the highest-valued coin to be used regularly in the world, with a value of US$ 4.42 as of December 2016 . Because of its high face value , the 500 yen coin has been a favorite target for counterfeiters, resulting in the issuance in 2000 of the second nickel-brass 500 yen coin with added security features. Continued counterfeiting of

2888-467: A steep decline, with sales falling to just 1.4 million in 2017 (a decline of over 90% in six years). With Toshiba in trouble amid an accounting scandal and under pressure to cut costs, it sold the majority of its PC business to Sharp Corporation. As a result, the company name and branding had changed to Dynabook effective in 2019. On the 30th anniversary of the original DynaBook launch in 1989, in July 2019,

3040-483: A table to write a letter to the president, someone has to write the letter. Compaq is sitting down at the typewriter". Michael S. Swavely, president of Compaq's North American division since May 1989, took a six-month sabbatical in January 1991 (which would eventually become retirement effective on July 12, 1991). Eckhard Pfeiffer , then president of Compaq International, was named to succeed him. Pfeiffer also received

3192-433: A then-industry record of $ 9.6 billion. The merger made Compaq, at the time, the world's second largest computer maker in the world in terms of revenue behind IBM. Digital Equipment, which had nearly twice as many employees as Compaq while generating half the revenue, had been a leading computer company during the 1970s and early 1980s. However, Digital had struggled during the 1990s, with high operating costs. For nine years,

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3344-498: A variety of factors. Firstly, Japan's prolonged low-interest-rate policy (to tackle domestic deflation ) has created a yield differential with other countries—notably the US—that have high interest rates (to tackle domestic inflation ), prompting investors to seek higher returns in foreign currencies. This interest rate differential directly affects the price of the Yen and serves as one of

3496-417: A yen called "rin" were first introduced in 1873. One rin coins were very small, measuring 15.75 mm in diameter and 0.3 mm in thickness, and co-circulated with mon coins of the old currency system. Their small size was eventually their undoing, and the rin was abandoned in 1884 due to unpopularity. Five rin coins worth one-two hundredth of a yen also used a bronze alloy. These were successor coins to

3648-462: Is so large that it is expected to double the money supply, but this move has sparked concerns that the authorities in Japan are deliberately devaluing the yen to boost exports. However, the commercial sector in Japan worried that the devaluation would trigger an increase in import prices, especially for energy and raw materials. Since 2022, the yen has depreciated significantly against its peers, due to

3800-438: Is the best way to merchandise those products. You remove the freedom from the dealers to really merchandise when you bundle in software. It is perceived by a lot of people as a marketing gimmick. You know, when you advertise a $ 3,000 computer with $ 3,000 worth of free software, it obviously can't be true. The software should stand on its merits and be supported and so should the hardware. Why should you be constrained to use

3952-611: Is the official currency of Japan . It is the third-most traded currency in the foreign exchange market , after the United States dollar and the euro . It is also widely used as a third reserve currency after the US dollar and the euro. The New Currency Act of 1871 introduced Japan's modern currency system, with the yen defined as 1.5 g (0.048 troy ounces) of gold, or 24.26 g (0.780 troy ounces) of silver, and divided decimally into 100 sen or 1,000 rin . The yen replaced

4104-640: The 1964 games . The largest issuance by denomination and total face value were 10 million gold coins of ¥100,000 denomination for the 60th anniversary of reign of the Shōwa Emperor in 1986, totalling ¥1 trillion and utilizing 200,000 kg fine gold. ¥500 commemorative coins have been regularly issued since 1985. In 2008 commemorative ¥500 and ¥1,000 coins were issued featuring Japan's 47 prefectures. Even though all commemorative coins can be spent like ordinary (non-commemorative) coins, they do not normally circulate, and ¥100,000 coins are treated with caution due to

4256-576: The Deskpro , a 16-bit desktop computer using an Intel 8086 microprocessor running at 7.14  MHz . It was considerably faster than an IBM PC and was, like the original Compaq Portable , also capable of running IBM software. It was Compaq's first non-portable computer and began the Deskpro line of computers. In 1986, Compaq introduced the Deskpro 386 , the first PC based on Intel 's new 80386 microprocessor. Bill Gates of Microsoft later said

4408-477: The Japanese asset price bubble and continued to do so afterwards, reaching a low of ¥134 to US$ in February 2002. The Bank of Japan's policy of zero interest rates has discouraged yen investments, with the carry trade of investors borrowing yen and investing in better-paying currencies (thus further pushing down the yen) estimated to be as large as $ 1 trillion . In February 2007, The Economist estimated that

4560-577: The Meiji period and later are printed on Japanese banknotes. The reason for this is that from the viewpoint of preventing forgery, it is desirable to use a precise photograph as an original rather than a painting for a portrait. Series E banknotes were introduced in 2004 in ¥1000, ¥5000, and ¥10,000 denominations. Series F banknotes were introduced on 3 July 2024. They were announced on 9 April 2019 by Finance Minister Tarō Asō . The ¥1000 bill features Kitasato Shibasaburō and The Great Wave off Kanagawa ,

4712-774: The Ministry of Finance and the Imperial Japanese National Bank. The Allied forces also issued some notes shortly after the war. Since then, the Bank of Japan has been the exclusive note issuing authority. The bank has issued five series after World War II. Japan is generally considered a cash-based society, with 38% of payments in Japan made by cash in 2014. Possible explanations are that cash payments protect one's privacy, merchants do not have to wait for payment, and it does not carry any negative connotation like credit. At present, portraits of people from

Dynabook Inc. - Misplaced Pages Continue

4864-678: The Qosmio G55, the first laptop with embedded technology from the Cell processor, which Toshiba co-developed for Sony 's PlayStation 3 . In December 2008, Toshiba and Sun Microsystems announced that Toshiba will ship laptops with OpenSolaris in the U.S. beginning in 2009. In 2010 the Toshiba Libretto W100 was a one-off revival of the Libretto line and was the "first dual-touchscreen" notebook. In April 2011, Toshiba announced

5016-677: The UnixWare NonStop Clusters product in 1998. Minor acquisitions centered around building a networking arm and included NetWorth (1998) based in Irving, Texas and Thomas-Conrad (1998) based in Austin, Texas. In 1997, Microcom was also acquired, based in Norwood, MA, which brought a line of modems, Remote Access Servers (RAS) and the popular Carbon Copy software. In 1998, Compaq acquired Digital Equipment Corporation for

5168-603: The [je] pronunciation. Walter Henry Medhurst , who had neither been to Japan nor met any Japanese people, having consulted mainly a Japanese-Dutch dictionary, spelled some "e"s as "ye" in his An English and Japanese, and Japanese and English Vocabulary (1830). In the early Meiji era, James Curtis Hepburn , following Medhurst, spelled all "e"s as "ye" in his A Japanese and English dictionary (1867); in Japanese, e and i are slightly palatalized, somewhat as in Russian. That

5320-518: The pattern stage . The first gold yen coins consisted of 2, 5, and 20 yen coins which were struck throughout 1870. Five yen coins were first struck in gold for the Japanese government in 1870 at the San Francisco Mint . During this time a new mint was being established at Osaka , which did not receive the gold bullion needed for coinage until the following year. Gold bullion was delivered from private Japanese citizens, foreigners, and

5472-700: The " Gang of Nine ", to develop EISA. Development of a truly mobile successor to the Portable line began in 1986, the company releasing two stopgap products in the meantime, the SLT (Compaq's first laptop ) and the Compaq Portable III (a lighter-weight, lunchbox-sized entry in the Portable line). In 1989, they introduced the LTE , their first notebook-sized laptop which competed with NEC 's UltraLite and Zenith Data Systems 's MinisPort . However, whereas

5624-514: The "A team", who controlled access to Pfeiffer. Gutsch was said to be a "master of corporate politics, pitting senior vice presidents against each other and inserting himself into parts of the company that normally would not be under his purview". Gutsch, who oversaw security, had an extensive security system and guard station installed on the eight floor of CCA-11, where the company's senior vice presidents worked. There were accusations that Gutsch and others sought to divide top management, although this

5776-636: The "yen" as Japan's modern unit of currency on June 27, 1871. This Act formally stipulated the adoption of the decimal accounting system of yen (1, 圓 ), sen ( 1 ⁄ 100 , 錢 ), and rin ( 1 ⁄ 1000 , 厘 ). The new currency was gradually introduced beginning from July of that year. Japanese yen denominated paper currency was also conceived with the coins in 1870 as Meiji Tsuho notes by Italian engraver Edoardo Chiossone . These were released as fiat currency in denominations of 1, 2, 5, 10, 50, and 100 yen along with subsidiary notes of 10, 20, and 50 sen in 1872. Almost concurrently,

5928-431: The 1990s to redenominate the yen by introducing a new unit or new yen, equal to 100 yen, and nearly worth one U.S. dollar. This has not happened to date, since the yen remains trusted globally despite its low unit value, and due to the huge costs of reissuing new currency and updating currency-reading hardware. The negative impact of postponing upgrades to various computer software until redenomination occurs, in particular,

6080-500: The 1990s. The company was initially based in Harris County, Texas . The company was formed by Rod Canion , Jim Harris , and Bill Murto , all of whom were former Texas Instruments senior managers. All three had left by 1991 under a shakeup, which saw Eckhard Pfeiffer appointed president and CEO, serving through the 1990s. Ben Rosen provided the venture capital financing for the fledgling company and served as chairman of

6232-565: The American market, called the Infinia, a high-end, black-colored Pentium computer with analog TV / FM radio card included in its highest configuration. The same year the company also released its first Libretto , a subnotebook or handheld computer running Windows 95 . Toshiba shipped its 10 millionth notebook computer in 1997. In November 1997, the company announced the discontinuation of their Infinia desktop line. In 2002, it launched

Dynabook Inc. - Misplaced Pages Continue

6384-517: The Chinese had traded silver in mass called sycees , and when Spanish and Mexican silver coins arrived from the Philippines , the Chinese called them "silver rounds" ( Chinese : 銀圓 ; pinyin : yínyuán ) for their circular shapes. The coins and the name also appeared in Japan. While the Chinese eventually replaced 圆 ; 圓 with 元 , the Japanese continued to use the same word, which

6536-567: The Compaq Plus with a 10  MB hard drive, PC Magazine wrote of "the reputation for compatibility it built with its highly regarded floppy disk portable". Compaq computers remained the most compatible PC clones into 1984, and maintained its reputation for compatibility for years, even as clone BIOSes became available from Phoenix Technologies and other companies that also reverse engineered IBM's design, then sold their version to clone manufacturers. On June 28, 1984, Compaq released

6688-615: The DynaBook Qosmio T851/D8CR, described as "the world's first glasses-free 3D notebook PC able to display 3D and 2D content at the same time on one screen". It was slated for a release in Japan. The Toshiba Portégé Z830 was launched as their first Ultrabook . In 2013, Toshiba released the Kirabook, a high-end Windows 8 notebook. In 2014, it launched the Toshiba Encore Windows 8.1 tablet and

6840-646: The DynaBook brand name for most of its future notebooks sold domestically. Toshiba and the present day Dynabook Inc. have since commemorated it as the "world's first notebook PC". The DynaBook was later released in America but as the name could not be used, it was released as Toshiba T1000SE. In August 1989, Toshiba's Tetsuya Mizoguchi sent a letter and a Toshiba T1000SE to Alan Kay in Boston, and in December Kay

6992-537: The European market noted that it was competition as rivals could match Compaq at a fraction of the cost. Under pressure from Compaq's board to control costs as staff was ballooning at their Houston headquarters despite falling U.S. sales, while the number of non-U.S. employees had stayed constant, Compaq made its first-ever layoffs (1400 employees which was 12% of its workforce) while Pfeiffer was promoted to EVP and COO. Rosen and Canion had disagreed about how to counter

7144-690: The Excite Go, a low-end Android tablet. In a LaptopMag.com ranking the best and worst laptop brands, Toshiba was placed last in 2013 and again in 2016; it was placed fourth in 2011. The DynaPad tablet running Windows 10 was launched in October 2015. In March 2016, Toshiba announced that it will stop selling consumer notebooks in Western markets due to falling profits and instead only focus on business products and aiming for profits with business-to-business sales of premium products. In 2017, Toshiba announced

7296-585: The IBM PC, to other computer manufacturers. The only part which had to be duplicated was the BIOS , which Compaq did legally by using clean room design at a cost of $ 1 million . Unlike other companies, Compaq did not bundle application software with its computers. Vice President of Sales and Service H. L. Sparks said in early 1984: We've considered it, and every time we consider it we reject it. I don't believe and our dealer network doesn't believe that bundling

7448-458: The Internet had overtaken Compaq's management team, saying "As a company engaged in transforming its industry for the Internet era, we must have the organizational flexibility necessary to move at Internet speed." In a statement, Pfeiffer said "Compaq has come a long way since I joined the company in 1983" and "under Ben's guidance, I know this company will realize its potential." Rosen's priority

7600-409: The Japanese government. Initially the government opted for silver, which would become the standard unit of value leaving gold coinage as a subsidiary. While gold coinage couldn't be produced domestically in 1870, the mint at Osaka could produce silver coins which included denominations of 5, 10, 20, and 50 sen. None of these coins dated "1870" circulated until the Meiji government officially adopted

7752-463: The Japanese market. As of FY 2022, Dynabook is the fifth largest PC vendor in Japan with a market share of 8%, trailing FCCL ( Fujitsu ), Dell , HP , and the leader NEC - Lenovo Group. In February 2024, Dynabook announced a recall of millions of AC adapters shipped with Toshiba notebooks from 2008 to 2012 due to burn and fire hazards, offering to replace them for free. Yen The yen ( Japanese : 円 , symbol : ¥ ; code : JPY )

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7904-589: The LTE was the first commercially successful notebook computer, helping launch the burgeoning industry. It was a direct influence on both Apple and IBM for the development of their own notebook computers, the PowerBook and ThinkPad , respectively. By 1989, The New York Times wrote that being the first to release a 80386-based personal computer made Compaq the leader of the industry and "hurt no company more - in prestige as well as dollars - than" IBM. The company

8056-542: The March 1977 IEEE Computer ; and inspired by the concept of a computer that could be carried and used by anyone of any age, Mizoguchi became determined to develop such a computer. The Dynabook trademark was already owned by other companies in Japan and the United States: Toshiba didn't use the name in the U.S., but ASCII Corporation had acquired the rights in Japan, so Toshiba paid a fee to ASCII to use

8208-477: The Ministry of Finance, seeking to introduce a modern monetary system into Japan. Ōkuma eventually proposed that coins, which were previously square, be made into circles, and that the names of the traditional currencies, ryō (両), bu (分) and shu (朱), be unified into yen (円), which was accepted by the government. Other rejected proposals included physical weight units of "Fun" and "Momme" which never made it past

8360-607: The PC chassis at its plant in Shenzhen , China to cut costs. In 1996, instead of expanding its own plant, Compaq asked a Taiwanese supplier to set up a new factory nearby to produce the mechanicals, with the Taiwanese supplier owning the inventory until it reached Compaq in Houston. Pfeiffer also introduced a new distribution strategy, to build PCs made-to-order which would eliminate the stockpile of computers in warehouses and cut

8512-518: The Portege 2000, called the "thinnest notebook" and weighing 2.6 pounds. The Tecra M4 tablet PC was launched in 2005. In September 2006, Toshiba recalled thousands of batteries, supplied by Sony , shipped with some of its laptops as they could lose power. However unlike the battery recalls by Apple and Dell in August 2006, which were also Sony-supplied, Toshiba reported that its affected batteries did not pose fire hazards. In 2008, Toshiba released

8664-493: The Portege X20W 2-in-1 convertible. During the 1990s, Toshiba globally ranked as the largest manufacturer of laptop/notebook computers. However its presence in desktop computers was limited, which led to it eventually exiting desktops to focus solely on mobile. Toshiba remained one of the largest vendors in the market during the 2000s, and as of 2011 the company was selling 17.7 million PCs. However, it afterwards went into

8816-476: The Toshiba J-3100 was the first 16-bit PC in Japan. 1987 saw the launch of Toshiba T1000 . The first Toshiba computer with the name DynaBook was announced on June 26, 1989, released in Japan (model number J-3100 SS001) featuring a 3.5 inch disk drive and full sized keyboard, weighing five pounds. Its compact size, combined with its low price, made it a major hit in the country, and led to Toshiba adopting

8968-412: The U. S. such that European dealers were more qualified to handle its increasingly complex products. During the 1980s, under Canion's direction Compaq had focused on engineering, research, and quality control, producing high-end, high-performance machines with high profit margins that allowed Compaq to continue investing in engineering and next-generation technology. This strategy was successful as Compaq

9120-584: The UltraLite and MinisPort failed to gain much uptake due to their novel but nonstandard data storage technologies, the LTE succeeded on account of its use of the conventional floppy drive and spinning hard drive, allowing users to transfer data to and from their desktop computers without any hassle. As well, Compaq began offering docking stations with the release of the LTE/386s in 1990, providing performance comparable to then-current desktop machines. Thus,

9272-582: The United States' actions in 1971. Following the United States' measures to devalue the dollar in the summer of 1971, the Japanese government agreed to a new, fixed exchange rate as part of the Smithsonian Agreement , signed at the end of the year. This agreement set the exchange rate at ¥308 per US$ . However, the new fixed rates of the Smithsonian Agreement were difficult to maintain in the face of supply and demand pressures in

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9424-451: The acquisition of Digital as the cultural differences between both companies were too great, and complained that he was placed on the "B team" as a result. Compaq entered 1999 with strong expectations. Fourth-quarter 1998 earnings reported in January 1999 beat expectations by six cents a share with record 48 percent growth. The company launched Compaq.com as the key for its new direct sales strategy, and planned an IPO for AltaVista toward

9576-443: The board for 17 years from 1983 until September 28, 2000, when he retired and was succeeded by Michael Capellas , who served as its last chairman and CEO until its merger. Compaq was overtaken by Dell as the top global PC maker in 1999, which took Compaq several months to take the top spot again in 2000 before eventually being overtaken by Dell again in 2001. Struggling to keep up in the price wars against Dell, as well as with

9728-450: The business changed its name to Toshiba Typewriter Co., Ltd. . In 1968, the name changed to Toshiba Business Machines Co. . Toshiba Corporation established Toshiba Business Computers Co. in 1977, which was merged with Toshiba Business Machines in 1984 with the result company named Toshiba Information Systems Corporation . In April 2016, control of the PC business was transferred to a sales company targeting domestic corporations by means of

9880-475: The cheaper Asian PC imports, as Canion wanted Compaq to build lower cost PCs with components developed in-house in order to preserve Compaq's reputation for engineering and quality, while Rosen believed that Compaq needed to buy standard components from suppliers and reach the market faster. While Canion developed an 18-month plan to create a line of low-priced computers, Rosen sent his own Compaq engineering team to Comdex without Canion's knowledge and discovered that

10032-514: The combined companies should do, or indeed how the three dramatically different cultures could work as a single entity, and Compaq struggled from strategy indecisiveness and lost focus, as a result being caught in between the low end and high end of the market. Mark Anderson, president of Strategic News Service, a research firm based in Friday Harbor, Wash. was quoted as saying, "The kind of goals he had sounded good to shareholders – like being

10184-521: The combined company would have to lay off 2,000 employees from Compaq and 15,000 from Digital which would potentially hurt morale. Furthermore, Compaq fell behind schedule in integrating Digital's operations, which also distracted the company from its strength in low-end PCs where it used to lead the market in rolling out next-generation systems which let rival Dell grab market share. Reportedly Compaq had three consulting firms working to integrate Digital alone. However, Pfeiffer had little vision for what

10336-665: The company had lost money or barely broke even, and had recently refocused itself as a "network solutions company". In 1995, Compaq had considered a bid for Digital but only became seriously interested in 1997 after Digital's major divestments and refocusing on the Internet. At the time of the acquisition, services accounted for 45 percent of Digital's revenues (about $ 6 billion) and their gross margins on services averaged 34 percent, considerably higher than Compaq's 25% margins on PC sales and also satisfying customers who had demanded more services from Compaq for years. Compaq had originally wanted to purchase only Digital's services business but that

10488-463: The company should no longer use profits from high-margin businesses to carry marginally profitable ones, as instead each unit must show a return on investment. Pfeiffer's vision was to make Compaq a full-fledged computer company, moving beyond its main business of manufacturing retail PCs and into the more lucrative business services and solutions that IBM did well at, such as computer servers which would also require more "customer handholding" from either

10640-459: The company's annual meeting for selling stock before reporting the sales slowdown. Rose was succeeded by SVP Enrico Pesatori, who had previously worked as a senior executive at Olivetti , Zenith Data Systems , Digital Equipment Corporation , and Tandem Computers . Capellas was appointed COO after pressure mounted on Rosen to find a permanent CEO, however it was reported that potential candidates did not want to work under Rosen as chairman. Around

10792-532: The company's field sales organization after starting up the Western U.S. Area of Operations. These executives, along with other key contributors, including Kevin Ellington, Douglas Johns, Steven Flannigan, and Gary Stimac, helped the company compete against the IBM Corporation in all personal computer sales categories, after many predicted that none could compete with the behemoth. The soft-spoken Canion

10944-525: The company's meteoric growth in the late 1980s and early 1990s were Ross A. Cooley, another former IBM associate, who served for many years as SVP of GM North America; Michael Swavely, who was the company's chief marketing officer in the early years, and eventually ran the North America organization, later passing along that responsibility to Cooley when Swavely retired. In the United States, Brendan A. "Mac" McLoughlin (another long time IBM executive) led

11096-457: The components inventory down to two weeks, with the supply chain from supplier to dealer linked by complex software. Vice-president for Corporate Development Kenneth E. Kurtzman assembled five teams to examine Compaq's businesses and assess each unit's strategy and that of key rivals. Kurtzman's teams recommended to Pfeiffer that each business unit had to be first or second in its market within three years—or else Compaq should exit that line. Also,

11248-508: The conclusion, the board was unanimous in picking Pfeiffer over Canion. As Canion was popular with company workers, 150 employees staged an impromptu protest with signs stating "We love you, Rod." and taking out a newspaper ad saying "Rod, you are the wind beneath our wings. We love you." Canion declined an offer to remain on Compaq's board and was bitter about his ouster as he did not speak to Rosen for years, although their relationship became cordial again. In 1999, Canion admitted that his ouster

11400-582: The currency. The sharp fall in the value of the currency has led some companies, including Modec , to stop presenting their financial statements in Japanese yen. However, this weakness has had some benefits for Japan's tourism industry, as the low exchange rate makes its purchasing power attractive for travellers, particularly those from foreign nations. The name, "Yen", derives from the Japanese word 圓 ( en , [eɴ] ; "round") , which borrows its phonetic reading from Chinese yuan , similar to North Korean won and South Korean won . Originally,

11552-655: The dealer channel and its markup, and built each machine to order to keep inventories and costs at a minimum. At the same time, Compaq, through its acquisitions of the Digital Equipment Corporation in 1998 and Tandem Computers in 1997, had tried to become a major systems company, like IBM and Hewlett-Packard. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. In early 1998, Compaq had

11704-587: The dealers or Compaq staff themselves. Unlike IBM and HP, Compaq would not build up field technicians and programmers in-house as those could be costly assets, instead Compaq would leverage its partnerships (including those with Andersen Consulting and software maker SAP) to install and maintain corporate systems. This allowed Compaq to compete in the "big-iron market" without incurring the costs of running its own services or software businesses. Most of Compaq's server sales were for systems that would be running Microsoft's Windows NT operating system, and indeed Compaq

11856-597: The discovery of counterfeits. The 1 yen coin is made out of 100% aluminum and can float on water if placed correctly. Subsidiary coins of "sen" (one hundredth of a yen) were initially introduced in 1870 with a silver alloy in denominations of 5, 10, 20 and 50 sen. Copper sen coins in denominations of half, 1, and 2 came three years later, as Japan acquired the technology needed to mint them. The removal of silver from sen coinage began in 1889, when Cupronickel 5 sen coins were introduced. By 1920, this included cupro-nickel 10 sen and reduced-size silver 50 sen coins. Production of

12008-441: The dollar. In light of the dollar's reduction in value from ¥360 to ¥308 just before the reversion, an unannounced "currency confirmation" took place on October 9, 1971, wherein residents disclosed their dollar holdings in cash and bank accounts; dollars held that day amounting to US$ 60 million were entitled for conversion in 1972 at a higher rate of ¥360. In the 1970s, Japanese government and business people were very concerned that

12160-510: The drivers behind its depreciation. Widely held expectations of yen depreciation can become self-fulfilling prophecies, affecting the currency's exchange rate. To counter this, the BOJ conducted currency interventions of more than JPY 9 trillion selling the dollar and buying the yen in the September–October 2022 and April–May 2024 periods respectively. Numerous proposals have been made since

12312-536: The end of 1999 in order to capitalize on the dotcom bubble. However, by February 1999, analysts were sceptical of Compaq's plan to sell both direct and to resellers. Compaq was hit with two class-action lawsuits, as a result of CFO Earl Mason, SVP John Rose, and other executives selling US$ 50 million of stock before a conference call with analysts, where they noted that demand for PCs was slowing down. On April 17, 1999, just nine days after Compaq reported first-quarter profit being at half of what analysts had expected,

12464-469: The equally valued half sen coin which had been previously minted until 1888. The decision to bring back an equally valued coin was in response to rising inflation caused by World War I which led to an overall shortage of subsidiary coins. The mintage period for five rin coins was brief as they were discontinued after only four years of production due to their sharp decline in monetary value. The overall demand for subsidiary coinage ended as Japan slipped into

12616-415: The establishment of a centralized banking system. The Bank of Japan hence commenced operations on October 10, 1882, with the authority to print banknotes that could be exchanged for the old Government and National Bank Notes. By May 1883, another act provided the redemption and retirement of national bank notes. The National Bank Act was amended again in March 1896, providing for the dissolution of

12768-470: The fastest-growing part of the computer hardware market. Compaq also built up a network engineering and marketing staff. In 1996, despite record sales and profits at Compaq, Pfeiffer initiated a major management shakeup in the senior ranks. John T. Rose, who previously ran Compaq's desktop PC division, took over the corporate server business from SVP Gary Stimac who had resigned. Rose had joined Compaq in 1993 from Digital Equipment Corporation where he oversaw

12920-406: The first CPU change to the PC platform that was not initiated by IBM. Compaq had concluded, according to PC , that it could do so because "IBM's DOS standard is now bigger than IBM"; IBM could not make changes to the PC architecture it had created to hurt Compaq, without also obsoleting millions of real IBM PCs. An IBM-made 386 machine reached the market almost a year later, but by that time Compaq

13072-641: The first Dynabook-branded products in the West were launched: Portégé X30-F, Tecra X40-F and Portégé A30-E, as successors of previous generation Toshiba-branded models. Also. the Dynabook G series was announced for Japan as a celebration of the 30th anniversary of the brand. Dynabook have continued making very light laptops, especially in its premium Portégé line. They have since also released education-specific models and TAA-compliant models for government use. In 2021, Dynabook released its first Chromebook called C1 for

13224-409: The first day of trading after the first-quarter announcement and closed the following Friday at $ 23.62 . During three out of the last six quarters of Pfeiffer's tenure, the company's revenues or earnings had missed expectations. While rival Dell had 55% growth in U.S. PC sales in the first quarter of 1999, Compaq could only manage 10%. Rosen suggested that the accelerating change brought about by

13376-422: The folks at IBM didn't trust the 386. They didn't think it would get done. So we encouraged Compaq to go ahead and just do a 386 machine. That was the first time people started to get a sense that it wasn't just IBM setting the standards, that this industry had a life of its own, and that companies like Compaq and Intel were in there doing new things that people should pay attention to. The Compaq 386 computer marked

13528-519: The foreign-exchange market. In early 1973, the rates were abandoned, and the major nations of the world allowed their currencies to float . After World War II the United States-administered Okinawa issued a higher-valued currency called the B yen from 1946 to 1958, which was then replaced by the U.S. dollar at the rate of $ 1 = 120 B yen. Upon the reversion of Okinawa to Japan in 1972 the Japanese yen then replaced

13680-618: The former entity. During this unstable period, the confusion caused by this form of exchange caused economic turmoil. The gold (counting money) system of eastern Japan and the silver (weighing money) system of the western Japan were not unified, and the difference in the gold-silver ratio caused a large amount of gold to flow overseas at the end of the Tokugawa shogunate. Emperor Meiji responded to this by appointing Ōkuma Shigenobu as head of Japan's monetary reform program. He worked with Inoue Kaoru , Itō Hirobumi , and Shibusawa Eiichi to run

13832-599: The founders in a pie shop, (named House of Pies in Houston). Their first venture capital came from Benjamin M. Rosen and Sevin Rosen Funds , who helped the fledgling company secure $ 1.5 million to produce their initial computer. Overall, the founders managed to raise $ 25 million from venture capitalists, as this gave stability to the new company as well as providing assurances to the dealers or middlemen. Unlike many startups, Compaq differentiated its offerings from

13984-481: The government established a series of national banks modeled after the system in the United States which issued national bank notes. Massive inflation from the Satsuma Rebellion in 1877 caused a glut of non-redeemable fiat currency notes. The issuance of national fiat banknotes was ultimately suspended in 1880 by then prime minister Matsukata Masayoshi . New policies were put into place which included

14136-424: The impact of the 1973 oil crisis was felt (this was retroactively called endaka , although the term was only coined in 1985). The increased costs of imported oil caused the yen to depreciate to a range of ¥290 per US$ to ¥300 per US$ between 1974 and 1976. The re-emergence of trade surpluses drove the yen back up to ¥211 in 1978. This currency strengthening was again reversed by the second oil shock in 1979 , with

14288-436: The latest in a string of earnings disappointments, Pfeiffer was forced to resign as CEO in a coup led by board chairman Ben Rosen . Reportedly, at the special board meeting held on April 15, 1999, the directors were unanimous in dismissing Pfeiffer. The company's stock had fallen 50 percent since its all-time high in January 1999. Compaq shares, which traded as high as $ 51.25 early in 1999, dropped 23 percent on April 12, 1999,

14440-518: The latter ceased in 1938, after which a variety of base metals were used to produce 1, 5 and 10 sen coins during the Second World War . While clay 5 and 10 sen coins were produced in 1945, they were not issued for circulation. As with the Rin, coins in denominations of less than 1 yen became invalid at the end of 1953 and were demonetized due to inflation. Bronze coins worth one-one thousandth of

14592-485: The latter resulted in the issuance in 2021 of the third bi-metallic 500 yen coin with more improvements in security features. Due to the great differences in style, size, weight and the pattern present on the edge of the coin they are easy for people with visual impairments to tell apart from one another. Commemorative coins have been minted on various occasions in base metal, silver and gold. The first of these were silver ¥100 and ¥1,000 Summer Olympic coins issued for

14744-465: The many other IBM PC clones by not focusing mainly on price, but instead concentrating on new features, such as portability and better graphics displays as well as performance—and all at prices comparable to those of IBM's PCs. In contrast to Dell and Gateway 2000 , Compaq hired veteran engineers with an average of 15 years experience, which lent credibility to Compaq's reputation of reliability among customers. Due to its partnership with Intel , Compaq

14896-418: The monitors that they offered to customers of their Deskpro and Presario lines as standalone units to third-party resellers, including their popular 171FS monitor. On June 26, 1995, Compaq reached an agreement with Cisco Systems, Inc. , in order to get into networking, including digital modems, routers, and switches favored by small businesses and corporate departments, which was now a $ 4 billion business and

15048-530: The name there. The trademark rights in Britain, France, and West Germany were also able to be acquired. Toshiba used "DynaBook" or "dynabook" as its notebook computer brand in the domestic Japanese market since 1989, but did not become a worldwide brand until 2019 after Toshiba offloaded the business to Sharp. In 1981, Toshiba released the first in a line of home computers under the Pasopia name, which run on

15200-519: The national banks on the expiration of their charters. This amendment also prohibited national bank notes from circulating after December 31, 1899. In that year, Japan adopted a gold exchange standard , defining the yen as 0.75 g fine gold or US$ 0.4985. This exchange rate remained in place until Japan left the gold standard in December 1931, after which the yen fell to $ 0.30 by July 1932 and to $ 0.20 by 1933. It remained steady at around $ 0.30 until

15352-508: The original AT bus—which it renamed ISA —instead of licensing IBM's MCA. Prior to developing EISA Compaq had invested significant resources into reverse engineering MCA, but its executives correctly calculated that the $ 80 billion already spent by corporations on IBM-compatible technology would make it difficult for even IBM to force manufacturers to adopt the new MCA design. Instead of cloning MCA, Compaq led an alliance with Hewlett Packard and seven other major manufacturers, known collectively as

15504-492: The personal computer division and worldwide engineering, while Stimac had been with Compaq since 1982 and was one of the longest-serving executives. Senior Vice-president for North America Ross Cooley announced his resignation effective at the end of 1996. CFO Daryl J. White, who joined the company in January, 1983 resigned in May, 1996 after 8 years as CFO. Michael Winkler, who joined Compaq in 1995 to run its portable computer division,

15656-491: The previous Tokugawa coinage as well as the various hansatsu paper currencies issued by feudal han (fiefs). The Bank of Japan was founded in 1882 and given a monopoly on controlling the money supply. Following World War II , the yen lost much of its pre-war value. To stabilize the Japanese economy , the exchange rate of the yen was fixed at ¥360 per US$ as part of the Bretton Woods system . When that system

15808-562: The problem of bloated PC inventories. By summer 1998, Compaq was suffering from product-quality problems. Robert W. Stearns, SVP of Business Development, said "In [Pfeiffer's] quest for bigness, he lost an understanding of the customer and built what I call empty market share—large but not profitable", while Jim Moore, a technology strategy consultant with GeoPartners Research in Cambridge, Mass., says Pfeiffer "raced to scale without having economies of scale." The "colossus" that Pfeiffer built up

15960-625: The release of Windows 3.0 in 1990.) Compaq's technical leadership and the rivalry with IBM was emphasized when the SystemPro server was launched in late 1989 – this was a true server product with standard support for a second CPU and RAID , but also the first product to feature the EISA bus, designed in reaction to IBM's MCA ( Micro Channel Architecture ) which was incompatible with the original AT bus. Although Compaq had become successful by being 100 percent IBM-compatible, it decided to continue with

16112-571: The retail computer market with the Compaq Presario as one of the first manufacturers in the mid-1990s to market a sub-$ 1000 PC. In order to maintain the prices it wanted, Compaq became the first first-tier computer manufacturer to utilize CPUs from AMD and Cyrix . The two price wars resulting from Compaq's actions ultimately drove numerous competitors from the market, such as Packard Bell and AST Research . From third place in 1993, Compaq had overtaken Apple Computer and even surpassed IBM as

16264-414: The separate position of Compaq president. The board complained that Pfeiffer was too removed from management and the rank-and-file, as he surrounded himself with a "clique" of Chief Financial Officer Earl Mason, Senior Vice-President John T. Rose, and Senior Vice-President of Human Resources Hans Gutsch. Current and former Compaq employees complained that Gutsch was part of a group of senior executives, dubbed

16416-400: The software that comes with a piece of hardware? I think it can tend to inhibit sales over the long run. Compaq instead emphasized PC compatibility, of which Future Computing in May 1983 ranked Compaq as among the "Best" examples. "Many industry observers think [Compaq] is poised for meteoric growth", The New York Times reported in March of that year. By October, when the company announced

16568-475: The start of the Pacific War on December 7, 1941, at which time it fell to $ 0.23. The sen and the rin were eventually taken out of circulation at the end of 1953. No true exchange rate existed for the yen between December 7, 1941, and April 25, 1949; wartime inflation reduced the yen to a fraction of its prewar value. After a period of instability, on April 25, 1949, the U.S. occupation government fixed

16720-416: The time of Rando's departure, Compaq Services ranked third behind those of IBM and EDS, while slightly ahead of Hewlett-Packard 's and Andersen Consulting , however customers switched from Digital technology-based workstations to those of HP, IBM, and Sun Microsystems. Mason, senior vice president and chief financial officer, had previously been offered the job of chief executive of Alliant Foodservice, Inc.,

16872-474: The title of chief operating officer, with responsibility for the company's operations on a worldwide basis, so that Canion could devote more time to strategy. Swavely's abrupt departure in January led to rumors of turmoil in Compaq's executive suite, including friction between Canion and Swavely, likely as Swavely's rival Pfeiffer had received the number two leadership position. Swavely's U.S. marketing organization

17024-546: The title of vice president for sales and marketing. In November 1982, Compaq announced their first product, the Compaq Portable , a portable IBM PC compatible personal computer . It was released in March 1983 at $ 2,995 . The Compaq Portable was one of the progenitors of today's laptop ; some called it a "suitcase computer" for its size and the look of its case. It was the second IBM PC compatible, being capable of running all software that would run on an IBM PC . It

17176-455: The top PC manufacturer in 1994, as both IBM and Apple were struggling considerably during that time. Compaq's inventory and gross margins were better than that of its rivals which enabled it to wage the price wars. Compaq had decided to make a foray into printers in 1989, and the first models were released to positive reviews in 1992. However, Pfeiffer saw that the prospects of taking on market leader Hewlett-Packard (who had 60% market share)

17328-473: The value of the yen at ¥360 per USD through a United States plan, which was part of the Bretton Woods system , to stabilize prices in the Japanese economy . That exchange rate was maintained until 1971, when the United States abandoned the gold standard, ending a key element of the Bretton Woods system, and setting in motion changes that eventually led to floating exchange rates in 1973. By 1971,

17480-406: The value of the yen. From its average of ¥239 per US$ in 1985, the yen rose to a peak of ¥128 in 1988, virtually doubling its value relative to the dollar. After declining somewhat in 1989 and 1990, it reached a new high of ¥123 to US$ in December 1992. In April 1995, the yen hit a peak of under 80 yen/US$ , temporarily making Japan's economy nearly the size of that of the US. The yen declined during

17632-416: The war, brass 50 sen, 1 and 5 yen were introduced between 1946 and 1948. The current-type holed brass 5 yen was introduced in 1949, the bronze 10 yen in 1951, and the aluminum 1 yen in 1955. In 1955 the first unholed, nickel 50 yen was introduced. In 1957, silver 100 yen pieces were introduced, followed by the holed 50 yen coin in 1959. These were replaced in 1967 by the current cupro-nickel 100 yen along with

17784-443: The world price of the yen has greatly decreased, falling to an average of almost ¥158 per dollar and ¥171 per euro in July 2024. The Bank of Japan maintains a policy of zero to near-zero interest rates and the Japanese government has previously had a strict anti-inflation policy. From late 2020 to first half 2024, the yen depreciated against the dollar by about 60%, giving rise to serious concern in Japan about long-term prospects for

17936-501: The year of mintage, which is not shown in Gregorian calendar years, but instead in the regnal year of the current emperor's reign , with the first year of an era called gannen ( 元年 ) . Imperial portraits have never appeared on Japanese coins, as the image of the emperor remains sacred. In 1897, the silver 1 yen coin was demonetized and the sizes of the gold coins were reduced by 50%, with 5, 10 and 20 yen coins issued. After

18088-412: The yen dropping to ¥227 per US$ by 1980. During the first half of the 1980s, the yen failed to rise in value, though current account surpluses returned and grew quickly. From ¥221 per US$ in 1981, the average value of the yen actually dropped to ¥239 per US$ in 1985. The rise in the current account surplus generated stronger demand for yen in foreign-exchange markets, but this trade-related demand for yen

18240-428: The yen had become undervalued. Japanese exports were costing too little in international markets, and imports from abroad were costing the Japanese too much. This undervaluation was reflected in the current account balance , which had risen from the deficits of the early 1960s, to a then-large surplus of US$ 5.8 billion in 1971. The belief that the yen, and several other major currencies, were undervalued motivated

18392-516: The yen is determined in foreign exchange markets by the economic forces of supply and demand . The supply of the yen in the market is governed by the desire of yen holders to exchange their yen for other currencies to purchase goods , services , or assets . The demand for the yen is governed by the desire of foreigners to buy goods and services in Japan and by their interest in investing in Japan (buying yen-denominated real and financial assets). Compaq Compaq Computer Corporation

18544-634: The yen was 15% undervalued against the dollar, and as much as 40% undervalued against the euro. However, this trend of depreciation reversed after the global economic crisis of 2008 . Other major currencies, except the Swiss franc , have been declining relative to the yen. On April 4, 2013, the Bank of Japan announced that they would expand their asset purchase program by $ 1.4 trillion in two years. The Bank of Japan hopes to bring Japan from deflation to inflation, aiming for 2% inflation. The number of purchases

18696-473: The yen weak relative to the dollar and fostered the rapid rise in the Japanese trade surplus that took place in the 1980s. In 1985, a dramatic change began. Finance officials from major nations signed an agreement (the Plaza Accord ) affirming that the dollar was overvalued (and, therefore, the yen undervalued). This agreement, and shifting supply and demand pressures in the markets, led to a rapid rise in

18848-507: The youngest-ever firm to make the Fortune 500 . In 1985, sales reached $ 504 million. In 1987, Compaq hit the $ 1 billion revenue mark, taking the least amount of time to reach that milestone. By 1991, Compaq held the fifth place spot in the PC market with $ 3 billion in sales that year. Two key marketing executives in Compaq's early years, Jim D'Arezzo and Sparky Sparks, had come from IBM's PC Group . Other key executives responsible for

19000-487: The ¥5000 bill features Tsuda Umeko and Wisteria flowers, and the ¥10,000 bill features Shibusawa Eiichi and Tokyo Station . The Ministry decided to not redesign the ¥2000 note due to low circulation. The EURion constellation pattern is present in the Series D, E and F banknotes. Beginning in December 1931, Japan gradually shifted from the gold standard system to the managed currency system. The relative value of

19152-605: Was Mizoguchi's guest at Toshiba. The DynaBook along with NEC 's 98 Note together accounted for the "vast majority" of notebook computer sales in Japan in the year 1990. In 1990, the T1000SE became mandatory for all 82 students at Methodist Ladies' College, Melbourne . In early 1990, Toshiba released the T1000XE and T1200XE, aimed at competing against Compaq 's LTE . In 1992, Toshiba launched DynaBook EZ in Japan which had applications built into ROM . The following year, EZ486P with

19304-426: Was a commercial success, selling 53,000 units in its first year and generating $ 111 million in sales revenue. The Compaq Portable was the first in the range of the Compaq Portable series . Compaq was able to market a legal IBM clone because IBM mostly used "off the shelf" parts for their PC . Furthermore, Microsoft had kept the right to license MS-DOS , the most popular and de facto standard operating system for

19456-441: Was a key player during the merger discussions and the most senior executive from Digital to remain with Compaq after the acquisition closed and had been touted by some as the heir-apparent to Pfeiffer. Rando's division had performed strongly as it had sales of $ 1.6 billion for the first quarter compared to $ 113 million in 1998, which met expectations and was anticipated to post accelerated and profitable growth going forward. At

19608-436: Was abandoned in 1971, the yen became undervalued and was allowed to float. The yen had appreciated to a peak of ¥271 per US$ in 1973, then underwent periods of depreciation and appreciation due to the 1973 oil crisis , arriving at a value of ¥227 per US$ by 1980. Since 1973, the government of Japan has maintained a policy of currency intervention, so the yen is under a managed float regime . The Japanese government focused on

19760-436: Was able to maintain a technological lead in the market place as it was the first one to come out with computers containing the next generation of each Intel processor . Under Canion's direction, Compaq sold computers only through dealers to avoid potential competition that a direct sales channel would foster, which helped foster loyalty among resellers. By giving dealers considerable leeway in pricing Compaq's offerings, either

19912-422: Was also cited. The Japan Mint has issued legal tender coins from 1871 to the present. The obverse side of all coins shows the coin's value in kanji characters as well as the country name (through 1945, Dai Nippon ( 大日本 , "Great Japan") ; after 1945, Nippon-koku ( 日本国 , "State of Japan") (except for the current 5-yen coin with the country name on the reverse). The reverse side of all coins shows

20064-478: Was an American information technology company founded in 1982 that developed, sold, and supported computers and related products and services. Compaq produced some of the first IBM PC compatible computers, being the second company after Columbia Data Products to legally reverse engineer the BIOS of the IBM Personal Computer . It rose to become the largest supplier of PC systems during

20216-502: Was at its height. CEO Pfeiffer boldly predicted that the Microsoft/Intel "Wintel" duopoly would be replaced by "Wintelpaq". Pfeiffer also made several major and some minor acquisitions. In 1997, Compaq bought Tandem Computers , known for their NonStop server line. This acquisition instantly gave Compaq a presence in the higher end business computing market. The alliance between Compaq and SCO took advantage of this to put out

20368-517: Was considered a trusted brand, while many other IBM clones were untrusted due to being plagued by poor reliability. However, by the end of the eighties many manufacturers had improved their quality and were able to produce inexpensive PCs with off-the-shelf components, incurring none of the R&;D costs which allowed them to undercut Compaq's expensive computers. Faced with lower-cost rivals such as Dell , AST Research , and Gateway 2000 , Compaq suffered

20520-476: Was given US$ 20,000 to start up Compaq Europe He started up Compaq's first overseas office in Munich in 1984. By 1990, Compaq Europe was a $ 2 billion business and number two behind IBM in that region, and foreign sales contributed 54 percent of Compaq's revenues. Pfeiffer, while transplanting Compaq's U.S. strategy of dealer-only distribution to Europe, was more selective in signing up dealers than Compaq had been in

20672-533: Was given the shinjitai form 円 in reforms at the end of World War II. The spelling and pronunciation "yen" is standard in English , because when Japan was first encountered by Europeans around the 16th century, Japanese /e/ ( え ) and /we/ ( ゑ ) both had been pronounced [je] and Portuguese missionaries had spelled them "ye". By the middle of the 18th century, /e/ and /we/ came to be pronounced [e] as in modern Japanese, although some regions retain

20824-493: Was justified, saying "I was burned out. I needed to leave. He [Rosen] felt I didn't have a strong sense of urgency". Two weeks after Canion's ouster, five other senior executives resigned, including remaining company founder James Harris as SVP of Engineering. These departures were motivated by an enhanced severance or early retirement, as well as an imminent demotion as their functions were to be shifted to vice presidents. Under Pfeiffer's tenure as chief executive, Compaq entered

20976-592: Was losing ground with only 4% growth for Compaq versus 7% in the market, likely due to short supplies of the LTE 386s from component shortages, rivals that undercut Compaq's prices by as much as 35%, and large customers who did not like Compaq's dealer-only policy. Pfeiffer became president and CEO of Compaq later that year, as a result of a boardroom coup led by board chairman Ben Rosen that forced co-founder Rod Canion to resign as president and CEO. Pfeiffer had joined Compaq from Texas Instruments , and established operations from scratch in both Europe and Asia. Pfeiffer

21128-488: Was named COO. While Enterprise Computing, responsible for engineering and marketing of network servers, workstations and data-storage products, reportedly accounted for one third of Compaq's revenues and likely the largest part of its profits, it was responsible for the earnings shortfall in Q1 of 1999. In addition, Rose was part of the "old guard" close to former CEO Pfeiffer, and he and other Compaq executives had been criticized at

21280-417: Was not nimble enough to adapt to the fast-changing computer industry. That year Compaq forecast demand poorly and shipped too many PCs, causing resellers to dump them at fire sale prices, and since Compaq protected resellers from heavy losses it cost them two quarters of operating profits. Pfeiffer also refused to develop a potential successor, rebuffing Rosen's suggestion to recruit a few executives to create

21432-586: Was offset by HP's extremely lucrative printer business, while IBM sold PCs at a loss but used them to lock in multi-year services contracts with customers. After Pfeiffer's resignation, the board established an office of the CEO with a triumvirate of directors; Rosen as interim CEO and vice chairmen Frank P. Doyle and Robert Ted Enloe III. They began "cleaning house", as shortly afterward many of Pfeiffer's top executives resigned or were pushed out, including John J. Rando, Earl L. Mason, and John T. Rose. Rando, senior vice president and general manager of Compaq Services,

21584-445: Was offset by other factors. A wide differential in interest rates, with United States interest rates much higher than those in Japan, and the continuing moves to deregulate the international flow of capital , led to a large net outflow of capital from Japan. This capital flow increased the supply of yen in foreign-exchange markets, as Japanese investors changed their yen for other currencies (mainly dollars) to invest overseas. This kept

21736-543: Was popular with employees and the culture that he built helped Compaq to attract the best talent. Instead of headquartering the company in a downtown Houston skyscraper, Canion chose a West Coast-style campus surrounded by forests, where every employee had similar offices and no-one (not even the CEO) had a reserved parking spot. At semi-annual meetings, turnout was high as any employee could ask questions to senior managers. In 1987, company co-founder Bill Murto resigned to study at

21888-557: Was promoted to general manager of the new PC products group. Earl Mason, hired from Inland Steel effective in May 1996, immediately made an impact as the new CFO. Under Mason's guidance, Compaq utilized its assets more efficiently instead of focusing just on income and profits, which increased Compaq's cash from $ 700 million to nearly $ 5 billion in one year. Additionally, Compaq's return on invested capital (after-tax operating profit divided by operating assets) doubled to 50 percent from 25 percent in that period. Compaq had been producing

22040-523: Was regarded by others as sour grapes on the part of executives who were shut out of planning that involved the acquisitions of Tandem Computers and Digital Equipment Corp. Pfeiffer reduced the size of the group working on the deal due to news leaks, saying "We cut the team down to the minimum number of people—those who would have to be directly involved, and not one person more". Robert W. Stearns, Compaq's senior vice president for business development, with responsibility for mergers and acquisitions, had opposed

22192-477: Was so influential that observers and its executives spoke of "Compaq compatible". InfoWorld reported that "In the [ISA market] Compaq is already IBM's equal in being seen as a safe bet", quoting a sell-side analyst describing it as "now the safe choice in personal computers". Even rival Tandy Corporation acknowledged Compaq's leadership, stating that within the Gang of Nine "when you have 10 people sit down before

22344-471: Was the 386 supplier of choice and IBM had lost some of its prestige. For the first three months after announcement, the Deskpro 386 shipped with Windows/386. This was a version of Windows 2.1 adapted for the 80386 processor. Support for the virtual 8086 mode was added by Compaq engineers. (Windows, running on top of the MS-DOS operating system, would not become a popular "operating environment" until at least

22496-556: Was the first full-scale Japanese-English/English-Japanese dictionary, which had a strong influence on Westerners in Japan and probably prompted the spelling "yen". Hepburn revised most "ye"s to "e" in the 3rd edition (1886) to mirror the contemporary pronunciation, except "yen". Although the Edo Shogunate collapsed with the Meiji Restoration and a new government was born, the monetary system still took over that of

22648-680: Was the largest hardware supplier for Windows NT. However, some 20 percent of Compaq servers went for systems that would be running the Unix operating system . This was exemplified by a strategic alliance formed in 1997 between Compaq and the Santa Cruz Operation (SCO), which was known for its server Unix operating system products on Intel-architecture-based hardware. Compaq was also the largest hardware supplier for SCO's Unix products, and some 10 percent of Compaq's ProLiant servers ran SCO's UnixWare . In January 1998, Compaq

22800-477: Was to have Compaq catchup as an E-commerce competitor, and he also moved to streamline operations and reduce the indecision that plagued the company. Roger Kay, an analyst at International Data Corporation, observed that Compaq's behavior at times seemed like a personal vendetta, noting that "Eckhard has been so obsessed with staying ahead of Dell that they focused too hard on market share and stopped paying attention to profitability and liquidity. They got whacked in

22952-505: Was tough, as that would force Compaq to devote more funds and people to that project than originally budgeted. Compaq ended up selling the printer business to Xerox and took a charge of $ 50 million. In 1994, Compaq formed a joint venture with ADI Corporation , a Taiwanese manufacturer who produced the bulk of Compaq's monitors, to raise multiple factories in Mexico, Brazil, and Europe to assemble and store ADI's monitors. Compaq sold many of

23104-465: Was turned down. When the announcement was made, it was initially viewed as a master stroke as it immediately gave Compaq a 22,000 person global service operation to help corporations handle major technological purchases (by 2001 services made up over 20% of Compaq's revenues, largely due to the Digital employees inherited from the merger), in order to compete with IBM. However it was also risky merger, as

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