MILWAUKEE & TOKYO--(BUSINESS WIRE)--Today, Johnson Controls, Hitachi, Ltd. and Hitachi Appliances, Inc. entered into a definitive agreement for their global joint venture while at the World Economic Forum in Davos. The new Johnson Controls-Hitachi joint venture will allow both companies to deliver the most diverse technology portfolio in the heating, ventilation, air conditioning and refrigeration industry. Through the agreement, Johnson Controls will obtain a 60 percent ownership stake in Hita