backtop


Print

Sharp Display Products to regain 100% control after sale

Sony and Sharp announced this week that their joint venture in producing and selling large-size LCD panels and modules will terminate. Sony will sell its shares in Sharp Display Products Corporation back to SDP. Sony owns about 7.04% of all stock issued in the company.
 
In exchange for selling the shares back to Sharp, Sony will get cash equal to its original investment of ¥10 billion.
 
The return of the stock and the cash payment to Sony will be completed by the end of June 2012. Sony made the original ¥10 billion investment in December of 2009, and at that point Sharp Display Products became a joint venture between Sharp and Sony.
 
Sharp expects no material impact on its financial forecast for the fiscal year ending March 31, 2013. Sony also expects no material impact on its own financial forecast set to end the same month.
 
Sharp Display Products already holds 92.96% of all stock in the company and purchasing Sony shares will bring its ownership up to 100%.

Source: MarketWatch





"We are going to continue to work with them to make sure they understand the reality of the Internet.  A lot of these people don't have Ph.Ds, and they don't have a degree in computer science." -- RIM co-CEO Michael Lazaridis
Latest Headlines
Featured Devices
November 28, 2016, 1:01 AM
Iron Man Mechanical Keyboard
November 18, 2016, 2:28 AM
AMD Inspires Innovation Everywhere
November 12, 2016, 1:00 AM




Latest Blog Posts
Apple Car is Not Dead
Saimin Nidarson - Dec 5, 2016, 1:00 AM
More News
Saimin Nidarson - Dec 4, 2016, 5:00 AM
More News
Saimin Nidarson - Dec 3, 2016, 5:00 AM
Top News
Saimin Nidarson - Dec 2, 2016, 5:00 AM
Top Stories
Saimin Nidarson - Nov 28, 2016, 1:12 AM
News: Fidel Castro
Saimin Nidarson - Nov 27, 2016, 5:00 AM
Top News
Saimin Nidarson - Nov 26, 2016, 5:00 AM
Top Stories
Saimin Nidarson - Nov 22, 2016, 2:26 AM
Headline News:
Saimin Nidarson - Nov 21, 2016, 1:00 AM






botimage
Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki