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Sony acquires Epson TFT LCD assets

Posted: 07 Jul 2009 ?? ?Print Version ?Bookmark and Share

Keywords:TFT LCD? intellectual property? polysilicon?

Sony Mobile Display Corp. (SMD) will acquire the TFT LCD manufacturing-related assets operated by Epson Imaging Devices Corp. following an agreement between parent companies Sony Corp. and Seiko Epson Corp.

Talks regarding the transfer of assets began in March 2009. The agreement places top priority on continuing to meet customer requirements, thus, the sales function for small- and medium-sized TFT LCD business operated by Epson Imaging will first be transferred to the Sony group within 2009. In April 2010, manufacturing-related assets for such business owned by Epson Imaging will be transferred to Sony Mobile Display Corp., from which time they will be operated by the Sony group.

Transfer of the sales function for small- and medium-sized TFT LCD business (excluding high-temperature polysilicon TFT LCDs, etc.) operated by Epson Imaging to the Sony group and secondment of sales personnel is planned to be completed within this year.

Transfer of certain buildings and equipment and lease of certain land relating to amorphous silicon TFT LCD manufacturing from Epson Imaging to SMD as well as transfer of certain intellectual property, including patents, software and technical information, is expected to commence on April 1, 2010.

In addition to the Sony group's existing expertise in sales, development, design and production of high-resolution low-temperature polysilicon TFT LCDs, the transfer of these business assets will enable Sony to fully utilize Epson Imaging and other Epson group capabilities in the field of small- and medium-sized TFT LCD sales, technology and product design and amorphous silicon TFT LCD production. By producing a wider range of technically advanced and cost effective products, and offering comprehensive small- and medium-sized TFT LCD product lineups, the Sony group expects to enhance its customer relationships and strengthen the competitiveness of its small- and medium-sized TFT LCD business.

The Epson group will work to assure a smooth and expeditious transfer of the business assets, and will continue to work closely with the Sony group to facilitate the further growth and success of the small- and medium-sized TFT LCD business

There will be no payment for the transfer of such business assets. No material impact on either Epson's or Sony's financial results for the current fiscal year for the transactions is anticipated. Any future impact on financial result for the fiscal year ending March 31, 2011 and beyond is being assessed.

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