Sony, Toshiba, and Hitachi are planning to merge their individual small-size LCD (Liquid Crystal Display) business, according to an August 31, 2011 report by Reuters. The government-backed INCJ (Innovation Network Corp of Japan) is projected to take about 70% stake in the new merged entity, Japan Display, by investing approximately 200 billion yen (US$2.6 billion; US$1=76.9 yen). The three companies will each take a 10% share. The merger deal is slated to complete by the spring of 2012. Japan Display is expected to be listed by the financial year ending in March 2016.