Sharp Strengthens Alliance with Samsung Electronics for Liquid C
Sharp Strengthens Alliance with Samsung Electronics for Liquid Crystal Business
Capital Alliance with Samsung Electronics Japan, a Japanese corporation of Samsung
Osaka, Mar 6, 2013 - (JCN Newswire) - Sharp Corporation ("Sharp") today announces that Sharp has decided to issue new shares through a third-party allotment ("Third Party Allotment Capital Increase") to Samsung Electronics Japan Co., Ltd.* ("Samsung Electronics Japan"), a Japanese corporation of Samsung Electronics Co. Ltd. ("Samsung Electronics") and form a capital alliance ("Capital Alliance") with Samsung Electronics Japan.
Sharp will receive capital investment of approximately 10.4 billion yen from Samsung Electronics Japan and will issue new shares equivalent to 3.08 % of the voting rights after such capital investment (3.04% if calculated based on the issued shares total).
The purpose of this Third Party Allotment Capital Increase is to build up mutual trust relationship toward increase in the corporate value of Sharp and Samsung Electronics in the field of liquid crystal display ("LCD") business, and at the same time to enhance Sharp's capital adequacy.
Sharp has been currently supplying Samsung Electronics with LCD panels. Through this Capital Alliance, Sharp is going to further strengthen the alliance and continuously provide a long-term, stable and timely supply of LCD panels for large-size TVs and small- and medium-size LCD panels for mobile devices such as notebook computers.
This Capital Alliance will enable Sharp to secure its source of revenue from LCD business forming the company's core. Sharp will certainly position its business for growth by continuously accelerating implementation of its business restructuring to realize a "recovery of business performance and credibility".
Details of this release are available at http://sharp-world.com/corporate/news/130306_2.html.
*The wholly owned subsidiary of Samsung Electronics Asia Holding Pte. Ltd. which is a wholly owned subsidiary of Samsung Electronics.
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 .
Corporate Public Relations Division Sharp Corporation Phone: +81-6-6625-3006 (Osaka) Phone: +81-3-3260-1870 (Tokyo)
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