Sony announced on November 27, 2010 that the company decides to increase the amount of LCD (Liquid Crystal Display) panels purchased from Taiwanese manufacturers and scrap the plan for joint cooperation on LCD production with Sharp, according to the Yomiuri Shimbun of Japan. It is reported that currently, approximately 30% of Sony's LCD panels are manufactured by Taiwanese makers, and Sony plans to increase the percentage of LCD panels procured from Taiwan to 50%. In July 2009, Sony and Sharp reached an agreement and established a LCD joint venture. As per the agreement, the two companies are expected to jointly produce LCD TV panels at a Sharp-built plant located in Sakai, Japan, and Sony is projected to increase its stake in the Sakai plant from the original 7% to a maximum of 34% by the end of April 2011. It is reported that now, Sony decides to keeps its 7% stake, rather than increasing its investment in the JV.