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Sharp, Pioneer ink business, capital alliance

Posted: 24 Sep 2007 ?? ?Print Version ?Bookmark and Share

Keywords:business alliance? Sharp-Pioneer partnership? imaging and display?

Sharp Corp. and Pioneer Corp. have entered into a strategic business and capital alliance to enhance efficient differentiation of business and to preserve corporate profits.

The capital alliance includes Pioneer's issuance of 30,000,000 common stocks which shall be fully allotted to Sharp, and to which Sharp shall subscribe the full amount through third party allotment. In return, Sharp shall dispose to Pioneer of 10,000,000 treasury stocks, which Sharp now owns, and Pioneer shall subscribe to the full amount by way of third party allotment.

The companies will cooperate to create new business and utilize both parties' resources including efficient implementation of the companies' strengths and specializations, such as imaging and display technology, Sharp's digital 2 technology, communication technology and device technology, as well as Pioneer's optical disk technology, acoustic technology and car electronics technology.

Sharp and Pioneer will jointly proceed with development of next-generation DVD products, utilizing Sharp's specialization in blue-violet laser diode and Pioneer's specialization in optical disk technology such as drive-module technology. In the automotive electronics sector, the companies will combine Sharp's technology of small- and medium-size displays, communication and sensor technology with Pioneer's car navigation technology and other in-vehicle know-how. The companies will also develop network-related products in home electronics as well as expand their display business by developing new audio-visual products.

The companies will finalize their capital alliance on December 20.

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