Quick Note: Sony and Sharp Call it Quits on LCD Joint Venture
May 25, 2012 1:22 PM
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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%.
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Sony cut off its supply of capital
5/25/2012 2:12:53 PM
After Sony cut off its supply of capital to the ill-fated Sakai production plant that it jointly owns with Sharp, it became clear that the final goodbye may be little more than a formality. And here it is, in the form of a cold, resolute press release stating that Sony is selling its seven percent stake back to Sharp and taking back the 10 billion yen ($126 million) it originally invested. The only reason given is the "rapidly changing market for LCD panels and LCD televisions," which is a polite reference to the fact that profits from big TVs are well below what these companies predicted back in the heady days of 2008 and early 2009, when the impact of the global economic crisis loomed without yet being fully apparent. Fortunately for Sony, which is in the delicate stages of reform, the solid pre-nuptial agreement it had in place with Sharp should protect the company from having to revise its financial forecasts for the coming year -- not that those were particularly great in the first place.
RE: Sony cut off its supply of capital
5/25/2012 2:35:57 PM
Wow, this is a very elaborate spam, almost to the point of coherency and relevancy to the topic ...
We're getting there, xkcd ... we're close ...
RE: Sony cut off its supply of capital
5/25/2012 3:18:48 PM
Yeah it's spam. If you look at previous posts he's done it many times before, always linking to the same site. Yet no one at DT has bothered to ban the account.
I find it funny that right now some idiot has rated his post up, while yours has been rated down.
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