Printer Friendly

Sharp and Sony sign Memorandum of Intent to create Joint Venture for Large Sized LCD Panels/Modules.

Tokyo, Japan, Feb 26, 2008 - (JCN Newswire) - Sharp Corporation and Sony Corporation announced that today they signed a non-binding memorandum of intent to establish a joint venture to produce and sell large sized LCD panels and modules, by splitting out from Sharp an LCD panel plant now under construction in Sakai City, Osaka Prefecture which will use 10th generation mother glass substrates. Certain information concerning the joint venture is outlined below, and the two companies will negotiate in good faith to enter into legally binding joint venture documentation by September 30, 2008.

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 .

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 $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

Contact:
Sharp Corporation
Corporate Public Relations Division
Tel: +81-3-3260-1870 (Tokyo)

Sony Corporation
Corporate Communications
Tel: +81-3-6748-2200 (Tokyo)


Japan Corporate News Network. All rights reserved.
COPYRIGHT 2008 Japan Corporate News Network K.K.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008, Gale Group. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:JCN Newswires
Date:Feb 26, 2008
Words:556
Previous Article:Panasonic Uses Catalytic Reaction to Decompose Plastics Into Harmless Gas for E-Waste Recycling.
Next Article:Mitsubishi Motors Announces Production, Sales and Export Figures for January 2008.
Topics:


Related Articles
SHARP/NEW MEXICO TO DEVELOP ALTERNATIVE ENERGY FIELD.
Samsung and Sony Sign Final Contract Regarding Production Line for World's Most Advanced Generation LCD Panel.
S-LCD Ships First LCD Panels from 8th Generation Line.
Sharp Holds Opening Ceremony for European LCD TV Plant.
Sharp's New System LCD with Embedded Optical Sensors to Provide Input Capabilities Including Touch Screen and Scanner Functions.
Sony and Toyota Industries Agree to Integrate 'ST Liquid Crystal Display Corp' and 'ST Mobile Display Corporation' Management.
Renesas Technology, Sharp Corporation and Powerchip Semiconductor to Establish Joint Venture Specializing in Drivers and Controllers for Small- and...
Samsung and Sony Agreed on Establishing Additional 8th Generation Line at S-LCD.
Sony, Sharp meet to build LCDs.
Sharp to Introduce World's Largest 108-Inch LCD Monitor for Commercial Applications; Now Accepting Orders.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters