Sony has been given Seiko Epson's small and medium sized TFT LCD operations. Seiko Epson's high-temperature polysilicon TFT LCDs are not included in the deal.
"The agreement announced today calls for certain assets of the Epson group to be transferred to the Sony group, subject to receipt of necessary government approvals," said Sony. "Placing top priority on continuing to meet customer requirements, the sales function for small- and medium-sized TFT LCD business operated by Epson Imaging will first be transferred to the Sony group within 2009."
Thereafter, it is planned that Epson Imaging manufacturing assets, including its plant at Tottori, intellectual property, and certain staff, will be transferred to Sony Mobile Display Corporation on April 1, 2010.
Sony already has low-temperature polysilicon TFT capability.
"By producing a wider range of products, and offering comprehensive small- and medium-sized TFT LCD product line-ups, the Sony group expects to enhance its customer relationships and strengthen the competitiveness of its small- and medium-sized TFT LCD business," said Sony.
No payment is involved.
"No material impact on either Epson's or Sony's financial results for the current fiscal year for the transactions is anticipated," said Sony. "Any future impact on financial result for the fiscal year ending March 31, 2011 and beyond is being assessed."