TOKYO (dpa-AFX) - Sharp Corp. (SHCAY.PK) and Sony Corp. (SNE, SON.L) announced that their joint venture relationship to produce and sell large-sized LCD panels and modules will terminate, and that Sony will dispose its shares in Sharp Display Products Corp., or SDP, to SDP.
In consideration for the sale of shares, Sony will receive cash consideration equal to its original investment of 10 billion yen to be paid by SDP. Both the sale of shares and the payment of cash consideration will be completed by the end of June 2012.
Sony said no material impact is anticipated on its consolidated financial forecasts for the fiscal year ending March 31, 2013.
Copyright RTT News/dpa-AFX
© 2012 AFX News
