REG-Sony Corporation Agreement to Transfer to Sony Certain Epson Business Assets Relating to Small- and Medium-Sized TFT Liquid Crystal Display Operations

TOKYO--(Business Wire)--

Seiko Epson Corporation
Sony Corporation

Agreement to Transfer to Sony Certain Epson Business Assets Relating to Small-
and Medium-Sized TFT Liquid Crystal Display Operations

TOKYO, Japan, June 30, 2009 - Seiko Epson Corporation ("Epson") and Sony
Corporation ("Sony") today announced the execution of an agreement to transfer
to the Sony group certain assets of the small- and medium-sized TFT liquid
crystal display (LCD) business operated by Epson Imaging Devices Corporation
("Epson Imaging") in the Epson group.

Epson and Sony have discussed a possible agreement in the field of small- and
medium-sized TFT LCDs since their March 2009 announcement. As further detailed
below, the agreement announced today calls for certain assets of the Epson group
to be transferred to the Sony group, subject to receipt of necessary government
approvals. Placing top priority on continuing to meet customer requirements, 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. Thereafter, it
is planned that certain manufacturing-related assets for such business owned by
Epson Imaging will be transferred to Sony Mobile Display Corporation ("SMD") on
April 1, 2010, from which time they will be operated by the Sony group.

The outline of the agreement is as follows:

To be completed within 2009 (planned)

1) 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.

To commence on April 1, 2010 (planned)

2) Transfer of certain buildings and equipment and lease of certain land
relating to amorphous silicon TFT LCD manufacturing from Epson Imaging (Tottori
city, Tottori, Japan) to SMD.

3) Transfer of certain intellectual property, including patents, software and
technical information, relating to small- and medium-sized TFT LCDs (excluding
high-temperature polysilicon TFT LCDs, etc.) from Epson to the Sony group.

4) Secondment of certain Epson Imaging and other Epson group employees involved
in the development, design and manufacture of small- and medium-sized TFT LCDs
(excluding high-temperature polysilicon TFT LCDs, etc.) from the Epson group to
the Sony group.

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.

About Epson and Epson Imaging

Epson is a global imaging and innovation leader that is dedicated to exceeding
the vision of customers worldwide through its compact, energy-saving,
high-precision technologies, with a product lineup ranging from printers and
3LCD projectors for business and the home, to electronic and crystal devices.

Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises over
70,000 employees in 108 companies around the world, and is proud of its ongoing
contributions to the global environment and the communities in which it
operates.

Epson Imaging Devices Corporation is a leader of small- and medium-sized LCD
products.

About Sony Corporation

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 electronics
and entertainment company in the world. Sony recorded consolidated annual sales
of approximately $79 billion for the fiscal year ended March 31, 2009. Sony
Global Web Site: http://www.sony.net/

Press contacts:

Seiko Epson Corp. PR & IR Department

Contact us by e-mail URL: http://www.epson.co.jp/e/

Sony Corporation, Corporate Communications TEL: 03-6748-2200

Sony Corporation

Copyright Business Wire 2009