Panasonic to Change Company Name of Subsidiary (IPS Alpha Technology, Ltd.)
23 Agosto 2010 - 11:06AM
Business Wire
Panasonic Corporation (NYSE:PC)(TOKYO:6752)( "Panasonic")
announced that IPS Alpha Technology, Ltd. ("IPS Alpha"), a
subsidiary manufacturing LCD panel, will change the company name
and take over IPS Alpha Technology, Himeji, Ltd. ("IPS Alpha
Himeji"), and IPS Alpha Support Co., Ltd. ("IPS Alpha Support")* as
of October 1, 2010, through a resolution that was approved at the
Board of Directors held on today.
* As of June 30, 2010, IPS Alpha Support was established by a
corporate split of Hitachi Displays, Ltd. ("Hitachi Displays"), and
assumed the entire shares of Hitachi Displays shareholding of IPS
Alpha. On the same day, Hitachi Displays transferred 94% shares of
IPS Alpha Support to Panasonic. As a result of these transactions,
Panasonic effectively acquired 92% shares of IPS Alpha, adding to
its existing shareholdings.
1. Basic information of the subsidiary Company Name
IPS Alpha Technology, Ltd. Principal Office 3732, Hayano,
Mobara-shi, Chiba, Japan Representative Fumiaki Yonai, President
Principal Lines of Business
Design, manufacture, sales, and
related maintenance & services of large-sized LCD TV panels
Capital Stock 50.2 billion yen
2. New company name Panasonic Liquid Crystal Display Co.,
Ltd. 3. Reason for company name change
The purpose of this name change is
to unify the strategy of LCD panel business on a global scale as a
Group. LCD panel is a key material of flat-panel TVs, and Panasonic
positions LCD panel business as a core business of the six key
businesses on Panasonic Group.
4. Effective date (planned) October 1, 2010
(The change will be submitted for
and subject to approval at its extraordinary meeting of
shareholders.)
As of October 1, 2010, IPS Alpha
Himeji, and IPS Alpha Support are integrated to Panasonic Liquid
Crystal Display Co., Ltd. with an aim to realize the unified and
effective management system. Moving forward, Panasonic will
implement its growth strategy for LCD TV panel business and
strengthen global competitiveness to enhance its flat-panel TV
business, which is a core business of Panasonic group's six key
businesses.
The principal office and the
representative of Panasonic Liquid Crystal Display Co., Ltd. are as
follows.
Principal Office
1-6, megahida-cho, shikama-ku,
Himeji-shi, Hyogo, Japan
Representative Shigeto Suzuki, President
About Panasonic Corporation
Panasonic Corporation is a worldwide leader in the development
and manufacture of electronic products for a wide range of
consumer, business, and industrial needs. Based in Osaka, Japan,
the company recorded consolidated net sales of 7.42 trillion yen
(US$79.4 billion) for the year ended March 31, 2010. The company's
shares are listed on the Tokyo, Osaka, Nagoya and New York
(NYSE:PC) stock exchanges. For more information on the company and
the Panasonic brand, visit the company's website at
http://panasonic.net.
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