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Hakunetsusha met with fierce competition from imports. Its bulb cost about 60 per cent more than the imports and the quality was poorer. The company managed to survive with the booms after the First Sino-Japanese War of 1894-95 and the Russo-Japanese War of 1904-05, but afterward its financial position was precarious. In 1905 the company was renamed Tokyo Denki (Tokyo Electric) and entered into a financial and technological collaboration with General Electric

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