JUKI and Sony Sign Memorandum of Intent Regarding Integration of SMT Equipment and Related Businesses
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JUKI and Sony Sign Memorandum of Intent Regarding Integration of SMT Equipment and Related Businesses - JCN Newswire
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JUKI and Sony Sign Memorandum of Intent Regarding Integration of SMT Equipment and Related Businesses
 
The New Company is expected to be established by capital injection from JUKI and Sony, respectively, with JUKI holding more than two thirds of the total shares.

Tokyo, Feb 6, 2013 - (JCN Newswire) - JUKI Corporation ("JUKI") and Sony Corporation ("Sony") today announced that they have signed a legally non-binding memorandum of intent to carry on the discussion regarding the possible integration of the surface-mount technology ("SMT") equipment and related businesses of JUKI and Sony EMCS Corporation, a wholly owned subsidiary of Sony ("Sony EMCS"), under a newly established company ("New Company"). This integration is intended to strengthen the competitiveness of each company's respective SMT equipment and related businesses. The New Company is expected to be established by capital injection from JUKI and Sony, respectively, with JUKI holding more than two thirds of the total shares.

JUKI and Sony will continue further discussions with the aim of entering into a legally binding definitive agreement and proceeding with this business integration by the end of September, 2013, subject to any necessary approvals of the authorities concerned.

About Sony

Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and online businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Sony recorded consolidated annual sales of approximately $72 billion for the fiscal year ended March 31, 2013. Sony Global Web Site: http://www.sony.net/.

Contact:

Sony Corporation
Corporate Communications
T: +81-3-6748-2200
E: sony.pressroom@sony.co.jp
 


Feb 6, 2013
Source: Sony

Sony (TSE: 6758) (FTSE: 6758q) (U.S: SNE)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Joint Venture
View more news from these Sectors: Consumer Electronics


 
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