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Seiko Epson to transfer part of LCD business assets to Sony.

TOKYO, June 30 Kyodo

Seiko Epson Corp., a major Japanese printer maker, has agreed to transfer some of its business assets for small- and medium-sized thin-film transistor liquid crystal displays to Sony Corp., the two firms said Tuesday.

The agreement put an end to their negotiations started in March, when Seiko Epson said it was considering transferring part of its LCD business assets to Sony as demand was declining for its LCDs for mobile phones and other electronic devices amid the current global economic slump.

The transfer will take place in two stages, the two firms said. First, Seiko Epson's LCD unit, Epson Imaging Devices Corp., will transfer the TFT-LCD sales function to the Sony group within this year.

Manufacturing-related assets including equipment, patents and employees involved in the LCD business will then be transferred to Sony Mobile Display Corp. on April 1, 2010, they said.

Of the benefits from such an alliance, the two firms said in a joint statement, ''The transfer of these business assets will enable Sony to fully utilize Epson Imaging and other Epson group capabilities in the field of small- and medium-sized TFT LCD sales, technology and product design and amorphous silicon TFT LCD production.''

''By producing a wider range of technically advanced and cost-effective products, and offering comprehensive small- and medium-sized TFT LCD product lineups, the Sony group expects to enhance its customer relationships and strengthen the competitiveness of its small- and medium-sized TFT LCD business,'' they said.

Sony and Seiko Epson said they do not see their accord as having any impact on either of their financial results for the current fiscal year through March 2010.
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Publication:Japan Consumer Electronics Scan
Date:Jul 6, 2009
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