Japanese textile manufacturer Mitsui & Co on Thursday said it plans to set up a joint venture in China to make high-performance textiles for sportswear at up to 20 per cent less than they would cost to produce in Japan. Mitsui said it expects sales of $1.2 million in the JV's first year of operations and $16m in the second, with the $7m project also involving a clothing maker from Shanghai and Osaka-based Tokunaga Trading Co.