Electronics Production |
Sony, Hitachi and Toshiba sign JV deal - Panasonic sells plant
The companies have signed definitive agreements to integrate their small- and medium-sized display businesses into a new company planned to be named Japan Display Inc. Panosanic has agreed to sell its Mobara LCD panel plant in China to the new company.
The new company is expected to be formed by Spring 2012.
The company will be partly financed by the Innovation Network Corporation of Japan, a private-public investment fund established in 2009. INCJ is investing a total of 200 billion yen ($2.6 billion) in the company in exchange for shares issued by Japan Display as a third party allotment.
Panasonic also announced it plans to transfer it's Mobara plant to the new company. Japan Display plans to develop a new manufacturing line for small- and medium-sized display production at the Mobara plant. INCJ and Panasonic expect to sign a definitive agreement by the end of December 2011 and aim to execute the transfer in April 2012.
