Sony, Hitachi And Toshiba Make Their LCD Business Merger Official

Yesterday, we reported about Sony, Hitachi and Toshiba planning to establish a joint venture for small and mid-size LCD panels in Japan. And today, the three companies, plus major shareholder Innovation Network Corporation of Japan, made the plan official.

As reported, the semi-public organization will control 70% of the venture (to be set up by the end of the year), with the other partners holding a 10% stake each. Tentatively named "Japan Display", the venture will launch with a cool US$2.6 billion investment and instantly control 21.5% of the world market for small and medium-sized LCDs.

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