Sharp and Sony Amend Agreement regarding Three way partnership to provide and Sell Large-Sized LCD Panels and Modules
Sharp Corporation ("Sharp") and Sony Corporation ("Sony") announced that they have got agreed to further amend the three way partnership agreement originally executed by the parties in July 2009, as amended in April 2011, for the establishment and operation of Sharp Display Products Corporation ("SDP"), a three way partnership to supply and sell large-sized LCD panels and modules.
Pursuant to the April 2011 amendment, Sharp and Sony discussed possible further contributions by Sony to SDP, but they've agreed that Sony won't make additional capital injections to SDP. The parties have also agreed to set a brand new term, as much as the top of September 2012, to allow study of the long run direction of the three way partnership, including with respect to the treatment of the shares that Sony has in SDP (7.04% of all issued shares) and possible purchases of enormous-sized LCD panels and modules. Under the March 2012 amendment, Sony may require that Sharp acquire all of Sony's shares in SDP, even before the tip of September 2012, upon the occurrence of certain events equivalent to a transfer by Sharp to any third party of a few or all the shares that Sharp has in SDP.
On July 1, 2009, Sharp transferred its LCD panel plant in Sakai City, Osaka Prefecture, to SDP. On December 29, 2009, Sony invested 10 billion yen into SDP in exchange for brand new shares issued by SDP to Sony (representing 7.04% of the issued shares in SDP) and, as a consequence, SDP became a three way partnership company of Sharp and Sony. Since then, Sharp and Sony have continued discussion about possible further contributions by Sony to SDP.
[Impact at the consolidated financial information of Sharp, as a parent company of SDP]
No material impact from this amendment is predicted on Sharp's consolidated financial results for the fiscal year ending March 31, 2012.
[Impact at the consolidated financial information of Sony]
No impact from this amendment is predicted on Sony's consolidated financial forecasts for the fiscal year ending March 31, 2012.
Sharp Corporation ("Sharp") and Sony Corporation ("Sony") announced that they have got agreed to further amend the three way partnership agreement originally executed by the parties in July 2009, as amended in April 2011, for the establishment and operation of Sharp Display Products Corporation ("SDP"), a three way partnership to supply and sell large-sized LCD panels and modules.
Pursuant to the April 2011 amendment, Sharp and Sony discussed possible further contributions by Sony to SDP, but they've agreed that Sony won't make additional capital injections to SDP. The parties have also agreed to set a brand new term, as much as the top of September 2012, to allow study of the long run direction of the three way partnership, including with respect to the treatment of the shares that Sony has in SDP (7.04% of all issued shares) and possible purchases of enormous-sized LCD panels and modules. Under the March 2012 amendment, Sony may require that Sharp acquire all of Sony's shares in SDP, even before the tip of September 2012, upon the occurrence of certain events equivalent to a transfer by Sharp to any third party of a few or all the shares that Sharp has in SDP.
On July 1, 2009, Sharp transferred its LCD panel plant in Sakai City, Osaka Prefecture, to SDP. On December 29, 2009, Sony invested 10 billion yen into SDP in exchange for brand new shares issued by SDP to Sony (representing 7.04% of the issued shares in SDP) and, as a consequence, SDP became a three way partnership company of Sharp and Sony. Since then, Sharp and Sony have continued discussion about possible further contributions by Sony to SDP.
[Impact at the consolidated financial information of Sharp, as a parent company of SDP]
No material impact from this amendment is predicted on Sharp's consolidated financial results for the fiscal year ending March 31, 2012.
[Impact at the consolidated financial information of Sony]
No impact from this amendment is predicted on Sony's consolidated financial forecasts for the fiscal year ending March 31, 2012.
From WhatNewsToday.net
0 comments:
Post a Comment