INCJ to Combine Toshiba, Hitachi, Sony's LCD Units, Purchase Panasonic LCD Plant
November 03, 2011
INCJ (The Innovation Network Corporation of Japan) announced that it plans to form a new company by combining the LCD (Liquid Crystal Display) businesses of Toshiba, Hitachi and Sony, according to a November 1, 2011 report by Nikkei. INCJ, a public-private fund, is reported to own 70% of the new company, which is projected to be set up in April 2012. INCJ also plans to purchase a Panasonic plant, located in Chiba Prefecture, Japan, for 20 billion yen (US$256.4 million; US$1=78.0 yen). The new company is projected to invest approximately 100 billion yen (US$1.28 billion) to convert the plant, currently focusing on large-sized LCD panel production, into a plant for producing small- and mid-sized LCDs for mobile phones and tablet devices. Operation of the new plant is slated to begin in the fall of 2012.