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Sony Corp to establish joint venture with Japan Display and Panasonic Corp and Panasonic to transfer business to joint venture

Thursday, 31 Jul 2014 02:00am EDT 

Sony Corp:Executed an agreement to establish a new company, JOLED Inc. to integrate Sony and Panasonic’s R&D functions for organic light-emitting diode (OLED) display panels, with Innovation Network Corporation of Japan (INCJ), Japan Display Inc. and Panasonic Corporation.INCJ and Japan Display will respectively hold 75 pct and 15 pct of the voting rights in JOLED, and Sony and Panasonic will each hold 5 pct.Companies aim to accelerate the development and early commercialization of OLED display panels.JOLED is scheduled to be launched in January 2015.Panasonic to transfer OLED display panels business on Jan. 5, 2015.JOLED to deliver 18,000 shares, undetermined amount preferred stock and cash to Panasonic. 

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-0.05 -0.37%
19 Dec 2014