Sanyo to Sell Out Stake in LCD JV to Epson
December 15, 2006
On December 13, Japanese Sanyo announced that it will transfer 45% of its shares in Sanyo Epson Image Device on December 28, 2006, to Epson, which holds 55% of this panel production JV. This move indicates Sanyo's plans to withdraw from the small- and medium-sized LCD (Liquid Crystal Display) market. Due to significant revenue losses, Sanyo also decided to trim down the company size during the next three years, from current 300 subsidiaries to 100.