Translation comes from Japanese official text:

"...Hitachi and Mitsubishi chemicals agreed to co-operate concerning the development and the like of the next generation optical record media.

Presently, as for the optical media which can be recorded, aiming toward the memory medium of larger capacity, each company does research and development. This time Hitachi and Mitsubishi will co-operate for develop next generation optical record media which will have superior functions and quality which are superior, since the research and development from 2 manufacturers is combined. In addition,simultaneously, with the centralization of the research theme, the 2 companies will work in improvement the cost reduction of investment efficiency and work for completeness of product line-up..."