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Sharp, Sony postpone LCD JV

Posted: 02 Feb 2009 ?? ?Print Version ?Bookmark and Share

Keywords:LCD panel module? LCD large-sized? LCD venture joint?

Faced with changes in the world economy, Sharp Corp. and Sony Corp. amended and extended their non-binding memorandum of intent (signed Feb. 26, 2008) on establishing a joint venture to produce and sell large-sized LCD panels and modules using the 10th generation mother glass substrates. This move is to confirm their mutual intent to postpone their target of establishing a joint venture until March 2010, approximately one year later than originally scheduled.

Since the Japan companies signed the non-binding memorandum of intent in Feb. 2008, they have been negotiating to enter into legally binding joint venture documentation. Through continued discussions of how the two companies can best deploy their resources and expertise, Sharp and Sony will continue to negotiate in good faith, according to the press release. Moreover, the two companies have set June 30, 2009 as the target date by which to enter into a definitive agreement to establish a joint venture that will be mutually beneficial for both companies.

Sharp intends to start operating its new LCD panel factory in Sakai City, Osaka Prefecture (currently under construction) by March 2010, which is the company's original schedule.

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