In the wake of the statement made by Pioneer and Sharp in April 2009 that they agreed to establish a JV, consolidating their optical disk businesses, these two Japanese companies announced on September 28 that they will delay the JV, in order to spare time for overseas anti-trust reviews, Reuters reported on September 28. Aiming to gain dominant position in the Blu-ray disk market, the JV - to be named Pioneer Digital Design and Manufacturing - will be valued at six billion Yen (US$66 million; US$1 = 90.0 Yen) with Pioneer holding a 66% stake and Sharp holding the remaining 34%. These two firms stated that the JV, which was originally schedule to begin operations around October 1, 2009, will be postponed without specifying the re-launch date.