Panasonic Hitachi, and Hitachi Displays, Hitachi?s subsidiary which is engaged in the small and medium-sized LCD panel business, today announced that Hitachi Displays conducts a corporate split today to establish IPS Alpha Support Co., Ltd .

IPS Alpha Support will assume Hitachi Displays? entire shareholding of 50.02% shares of IPS Alpha Technology, Ltd., which designs, manufactures and sells large-sized LCD TV panels.

Also today, Hitachi Displays transfers 94% shares of IPS Alpha Support to Panasonic, and 6% shares to Hitachi.

As a result of these transactions, Panasonic will effectively acquire 47.02% shares of IPS Alpha. Adding to its existing shareholding of 44.98%, Panasonic will have an effective investment in IPS Alpha of 92%.

Hitachi will have an effective investment in IPS Alpha of 5% during the current fiscal year,by acquiring 6% shares of IPS Alpha Support and other measures.