Tokyo, June 25, 2009 - (JCN Newswire) - Pioneer Corporation and Sharp Corporation today signed a formal contract for the establishment of an optical disk joint venture.
The goal of the new joint venture is to make more effective use of the management resources of the two companies in the optical disk business field, and to further expand the business in this area, especially in the highly promising Blu-ray Disc market. The new company will develop, design, manufacture and sell optical-disk products such as optical disk drives, recorders and players.
Pioneer and Sharp plan to launch operations at the joint venture on October 1, 2009.
Outline of the new company
Company name: Pioneer Digital Design and Manufacturing Corporation
Headquarters: 1-1, Shin-ogura, Saiwai-ku, Kawasaki-shi, Kanagawa, Japan
(Within Kawasaki Plant of Pioneer Corporation)
Capital: 6 billion yen (including additional paid-in capital)
Shareholders: Pioneer Corporation (66%), Sharp Corporation (34%)
President: Toshihiko Kurihara
(Currently General Manager of Components Business Division
of Home Entertainment Business Group of Pioneer Corporation)
Directors: 5 (3 from Pioneer, 2 from Sharp)
Employees: Approximately 450
Start of op: October 1, 2009 (Scheduled)
Businesses: Development, design, manufacture, and sale of
optical-disk-related products and parts.
Forecast: Approximately 38 billion yen (during six months from Oct 1,
2009 through March 31, 2010)
About Pioneer
Pioneer Corporation, headquartered in Tokyo, is a leading global manufacturer of consumer and business-use electronics products such as audio, video and car electronics. Its shares are traded on the Tokyo Stock Exchange (TSE: 6773). For more information , please visit http://pioneer.jp .
About Sharp
Sharp Corporation (TSE: 6753) is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in liquid crystal displays (LCDs) and digital technologies, Sharp offers one of the broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses. For more information, please visit www.sharp.co.jp .
Contact:
Public Relations,
Pioneer Corporation
Phone: +81-3-3495-9885
Corporate Public Relations,
Sharp Corporation
Phone: +81-6-6625-3006 (Osaka)
Phone: +81-3-3260-1870 (Tokyo)
June 25, 2009
Source: Pioneer
Source: Sharp
Pioneer (TSE: 6773) (U.S: PNCOF)
Sharp (TSE: 6753) (U.S: SHCAY)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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