Sony and Toyota Industries Agree to Integrate 'ST Liquid Crystal Display Corp' and 'ST Mobile Display Corporation' Management.Tokyo, Japan, Sept 26, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Sony Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 6758) and Toyota Industries Toyota Industries Corporation (豊田自動織機, Toyota Jidō Shokki) TYO: 6201 is a Japanese machine maker, founded in 1926 by Sakichi Toyoda, it was originally called Toyoda Automatic Loom Works, Ltd. Corporation (TSE: 6201) today announced an agreement to integrate management of their ST Liquid Crystal Display ST Liquid Crystal Display Corporation (STLCD) is a 50:50 joint venture between Sony Corporation and Toyota Industries Corporation, and was established in 1997. It manufactures low-temperature polysilicon TFT LCDs for use in camcorders, digital cameras, mobile phones, etc. Corp (hereafter STLCD) and ST Mobile Display Corporation (hereafter STMD STMD Scott Tenorman Must Die (South Park cartoon) STMD Short Term Memory Displacement ) joint ventures, and establish a new company effective December 1st, 2007. STLCD and STMD currently manufacture low-temperature polysilicon thin film transistor liquid crystal displays liquid crystal display (LCD) Optoelectronic device used in displays for watches, calculators, notebook computers, and other electronic devices. Current passed through specific portions of the liquid crystal solution causes the crystals to align, blocking the passage of light. (hereafter LTPS-TFT-LCD) panels for mobile products. Sony and Toyota Industries established STLCD in October 1997, combining each company's respective strengths in the production of LTPS-TFT-LCD panels. Responding to additional increases in demand, Sony and Toyota Industries established STMD in March 2005 as a second manufacturing base, achieving further business expansion. With this management integration, the companies will unify manufacturing functions, and facilitate more efficient and responsive management operations with the aim of reinforcing business competitiveness. Following its establishment, principle management of the new company will be assigned to Sony, and it will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Sony by March 31, 2009. (When the new company is established on December 1st, 2007 Sony's share will be 86% and Toyota Industries 14%.) Through this integration, Sony will seek to further streamline decision-making and enhance management responsiveness within its mobile product LCD business. Meanwhile, Toyota Industries will concentrate resources on the core business segment such as automobile and material handling businesses, and also leverage experiences and know-how that have been acquired through LCD panel Also called a "projection panel," it is a data projector that accepts computer output and displays it on a see-through liquid crystal screen that is placed on top of an overhead projector. See data projector. production for the expansion of those businesses. Outline of ST Liquid Crystal Display Corp. (STLCD)
Establishment: October 22nd, 1997
Capitalization: 23 billion yen
Investment Breakdown: Sony 50%, Toyota Industries Corporation 50%
Executives: President and representative director:
Kenji Ogura
Location: 50 Ooazaogawa azakamifunaki higashiura-cho,
Chita-gun, Aichi Prefecture
Production Capacity: 40,000 panels/month (unit size: 600 x 720mm)
Employees: 1076 (at the end of August, 2007)
Outline of ST Mobile Display Corporation (STMD)
Establishment: March 31st, 2005
Capitalization: 100 million yen
Investment Breakdown: Sony 80%, Toyota Industries Corporation 20%
Executives: President and representative director:
Hisao Hayashi
Location: 800 Ichimiyake, Yasu-shi, Shiga Prefecture
Production Capacity: 25,000 panels/month (unit size: 550 x 650mm)
Employees: 394 (at the end of August,2007)
About Sony Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading personal broadband entertainment company in the world. Sony recorded consolidated annual sales of approximately $67 billion for the fiscal year ended March 31, 2005. For more information, please visit the Sony Global Web Site at www.sony.net. About Toyota Industries Corporation Toyota Industries Corporation was founded in 1926 to manufacture and sell automatic looms (weaving machines) invented by Sakichi Toyoda Sakichi Toyoda (豊田 佐吉 Toyoda Sakichi, February 14 1867 – October 30 1930) was a Japanese inventor and industrialist. He was born in Kosai, Shizuoka. The son of a poor carpenter, Toyoda is referred to as the "King of Japanese Inventors". . In the ensuing years, Toyota Industries extended the scope of its business domains to encompass textile machinery, automobiles (vehicles, engines, car air-conditioning compressors), materials handling equipment Mechanical devices for handling of supplies with greater ease and economy. See also materials handling. , electronics and logistics. With production bases in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia, including Japan, China and India, as well as a worldwide sales network, mainly in its Materials Handling Equipment and Textile Machinery segments, the operations of the Toyota Industries Group span the globe. For more information, please visit www.toyota-industries.com. Source: Sony Contact: Sony Corporation Corporate Communications Tel: +81-3-5448-2200 Fax: +81-3-5448-3061 Japan Corporate News Network. All rights reserved. |
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