• NEC Display Solutions becomes a subsidiary of Sharp Corporation

        • Sharp Corporation has decided and agreed with NEC Corporation to acquire 66 per cent of the shares of NEC Display Solutions Ltd (NDS), a subsidiary of NEC, to become a subsidiary of Sharp and to be jointly operated with NEC as a joint venture.

          NDS is in charge of BtoB display business within the NEC Group, with LCD display, and professional projector solutions at its core development worldwide. Meanwhile, Sharp develops its BtoB display business with LCD display, electric whiteboard, professional projector, and 8K related equipment etc. in the Japanese market.

          NDS holds strengths in the global market centring in Europe and North America, while Sharp has its strengths in the Japan market, making both parties mutually complementary, and various synergy effects can be expected by establishing a joint venture, such as scale merit, cross-selling of products, and business expansion in new categories such as LED display and 8K+5G Ecosystems with mutual cooperation.

          Like the above, Sharp views that making NDS its subsidiary and also a joint venture with the NEC Group will contribute to Sharp’s business growth by enforcing its BtoB business and expanding sales etc. and decided to acquire a majority of NDS shares.

          66 per cent of NDS shares will be transferred from NEC to Sharp. The shares currently partially owned by NEC Networks & System Integration Corporation are scheduled to be transferred to NEC prior to the share transfer to Sharp, and NEC will hold all shares of NDS at that time.

          With the above, NDS will become Sharp’s subsidiary as Sharp will hold 660/o of its shares. NEC will continue to hold 340/o of its shares to make NDS a joint venture between Sharp and NEC. Also, the following four subsidiaries of NDS will become Sharp’s subsidiaries with the above transfer of NDS becoming Sharp’s subsidiary.

          The impact of this transaction on consolidated performance is minor.

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