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KYOCERA to Acquire TFT Liquid Crystal Display Design & Manufacturing Facility from SONY
Acquisition brings strategic expansion to Kyocera’s LCD product line
Kyocera Corporation (President: Tetsuo Kuba; herein “Kyocera”) today announced that it has reached a definitive agreement with Sony Corporation and its subsidiary Sony Mobile Display Corporation (herein “SMD”) to acquire part of its Thin Film Transistor (TFT) Liquid Crystal Display (LCD) design and manufacturing business. The acquisition will be undertaken by means of a corporate split, where Kyocera will acquire the TFT LCD facilities of SMD located in Yasu City, Shiga Prefecture, Japan, effective June 1, 2010. Existing employment contracts will be assigned to Kyocera and employees transferred on the same date.
Kyocera’s Corporate Thin Film Components Group develops, manufactures and markets small- and medium-sized (under 10.4 inch) LCDs for industrial applications worldwide. The company is known as a stable supplier of STN (passive) and TFT (active) LCDs, with strong capabilities in accommodating specific customer requirements, even in low-volume orders.
Strong growth in demand for more cost-competitive, larger, higher resolution industrial-use TFT LCDs is expected to continue. The acquisition of SMD’s TFT LCD business is intended to strengthen Kyocera’s ability to respond to this growth.
This acquisition will enable Kyocera to expand its diverse TFT LCD line with products of even higher added value to meet a wider range of customer needs.
- Changes in Organizational Structure, Executive Officers and Management Personnel
- Notice Relating to Kyocera Corporation’s Voluntary Adoption of International Financial Reporting Standards
- Notice Relating to Kyocera Corporation’s Intention to Apply to Delist American Depositary Shares from the New York Stock Exchange and Terminate Registration with the U.S. Securities and Exchange Commission