Sharp and Sony sign Memorandum of Intent to create Joint Venture for Large Sized LCD Panels/Modules.
The parties will aim through this collaboration to further strengthen Sharp's advanced LCD display technologies and Sony's competitiveness in the TV market.
Once the joint venture agreement is entered into and becomes effective, and subject to receipt of necessary government approvals, the new joint venture will seek to maximize the advantages gained from using the world's first 10th generation glass substrates to produce large sized LCD panels and modules that deliver the industry's highest levels of quality, cost and performance. These will then be supplied to Sharp and Sony in quantities corresponding to their respective investments. Sharp and Sony will also discuss and study the possibility to jointly develop components for LCD modules to further reinforce their mutual cooperation.
The new company will endeavor to rapidly establish full and stable manufacturing operations at a new state of the art facility producing large sized LCD panels, and, in coordination with other companies concerned, will realize the vision of "Manufacturing Complex for the 21st Century".
New Company Overview
Company name: To be determined Location: Sakaihama District, Sakai-ku, Sakai City, Osaka Prefecture Date of Establishment: Scheduled for April, 2009 (pending further discussion) Start of Operations: By the end of FY 2009 (planned) Capital: To be determined (Sharp: 66%, Sony:34%) Total Investment: To be determined (Sharp: 66%, Sony:34%) Operations: Production of large sized LCD panels/modules (for LCD TVs) for sale to Sharp and Sony Production Capacity: 72,000 substrates per month (initially 36,000 substrates panels/month) (Mother Glass Substrate input basis)
About Sharp Corporation
Sharp Corporation (TSE: 6753) is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in liquid crystal displays (LCDs) and digital technologies, Sharp offers one of the broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses. Sharp Corporation employs about 57,600 people in the world (as of April 30, 2007) and recorded consolidated annual sales of 3,127,771 million yen for the fiscal year ended March 31, 2007. For more information, please visit www.sharp.co.jp .
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 $70 billion for the fiscal year ended March 31, 2007. For more information, please visit the Sony Global Web Site at www.sony.net .
Source: Sharp CorporationSony
Sharp Corporation Corporate Public Relations Division Tel: +81-3-3260-1870 (Tokyo) Sony Corporation Corporate Communications Tel: +81-3-6748-2200 (Tokyo)
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|Date:||Feb 26, 2008|
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