Sharp and NEC completed the previously announced transaction to form a joint venture by Sharp acquiring 66% of shares for NEC Display Solutions, a subsidiary of NEC. In connection with the completion of the transaction, NDS has changed its company name to Sharp NEC Display Solutions. (hereinafter ‘SNDS’) and has started business operations as a subsidiary of Sharp.
The newly formed SNDS will continue its focus on the BtoB display business, producing and developing a broad range of visual display solutions for a variety of markets and applications.
Fujikazu Nakayama, Senior Executive Managing Officer and Business Solutions BU President of Sharp, will serve as Chairman of the new business and Hisatsugu Nakatani, President of NEC Display Solutions, will serve as President of SNDS.
This new company represents an ongoing commitment to the display solutions business. Both Sharp and NDS display businesses are two market-brands in the production and development of visual solutions, and the Sharp-NEC joint venture will result in a wide range of synergies. Known worldwide for a commitment to high-quality products, focus on customer support and outstanding partner relationships, SNDS approaches this new opportunity with plans to continue delivering high-quality, innovative solutions to its customers around the world.
Outline of Company
???Name: Sharp NEC Display Solutions
?Former: NEC Display Solutions?
???Location: Mita Kokusai Building, 4-28, Mita 1-chome, Minato-Ku, Tokyo, Japan
???Business Description: Development, manufacturing and sales of visual display products and visual display solutions worldwide
???Members of the Board
???Capitalization: 3 billion yen
???Date established: January 18, 2000
???Major shareholders and shareholding ratios: Sharp 66%, NEC 34%
???Employees: Approx. 950 (consolidated worldwide)