Announcement of a Basic Agreement between Innovation Network Corp. of Japan & Panasonic Corp. Regarding the Transfer of the M...
15 Novembre 2011 - 7:00AM
Business Wire
Panasonic Corporation ([NYSE:PC/TOKYO:6752] "Panasonic") today
announced a basic agreement regarding the transfer of the Mobara
plant of Panasonic Liquid Crystal Display Co., Ltd., a subsidiary
of Panasonic.
For further detail, please see the attached.
Announcement of a Basic Agreement between
Innovation Network Corporation of Japan and Panasonic Corporation
regarding the transfer of the Mobara plant of Panasonic Liquid
Crystal Display Co., Ltd.
Innovation Network Corporation of Japan ("INCJ") and Panasonic
Corporation ("Panasonic") hereby announce that both companies have
reached an agreement in principle today regarding the transfer of
the Mobara plant of Panasonic Liquid Crystal Display Co., Ltd., a
subsidiary of Panasonic, to Japan Display Inc. ("Japan
Display"—provisional name), a new company that is in the process of
being established to pursue small- and medium-sized display
business.
Japan Display plans to develop a new manufacturing line for
small- and medium-sized display production at the Mobara plant.
INCJ and Panasonic will proceed with discussions toward the
scheduled conclusion of a definitive agreement by the end of
December 2011 and aim to execute the transfer in April 2012.
[For inquiries]
Innovation Network Corporation of Japan
http://www.incj.co.jp/english/
Marunouchi-Kitaguchi Building 1-6-5, Marunouchi,
Chiyoda-ku Tokyo 100-0005, Japan Strategic Plannig Office TEL:
+81-3-5218-7200
Panasonic Corporation
http://panasonic.net/
1006, Oaza Kadoma, Kadoma-shi, Osaka 571-8501, Japan PR Group,
Global Public Relations Office TEL: +81-3-6403-3040 Panasonic News
Bureau TEL: +81-3-3542-6205
About Innovation Network Corporation of
Japan (INCJ)INCJ was established in July 2009 as a
public-private partnership that provides financial, technological
and management support for next-generation businesses. INCJ
specifically supports those projects that combine technologies and
varied expertise across industries and materialize open innovation.
INCJ has the capacity to invest up to 900 billion yen (approx US$12
billion). To date, INCJ has invested approximately 325 billion yen
in a total of 19 projects and is currently focused on a broad range
of areas from green energy, electronics, IT and biotechnology to
infrastructure-related sectors such as water supply. INCJ maintains
a hands-on approach to investment, engaging in the business
development of cutting-edge core technologies through intellectual
property funds, expansion of venture companies and aggressive
overseas development through initiatives such as restructuring and
mergers of tech businesses and acquisitions of foreign
companies.
About PanasonicPanasonic
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 8.69 trillion yen (US$105
billion) for the year ended March 31, 2011. 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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