Sony To Transfer Its Small LCD Business To Sony Mobile Display
As of March 30, 2012, Sony plans to transfer rights and obligations relating to its small- and medium-sized LCD device businesses to Sony Mobile Display (SMD), a wholly-owned subsidiary of Sony.
This reorganization will take place in connection with the integration of small- and medium - sized display businesses announced by Sony, Innovation Network Corporation of Japan (INCJ), Toshiba and Hitachi jointly on November 15, 2011.
This reorganization within Sony is intended to be conducted by way of a "company split" under the Companies Act of Japan.
The purposes of the company split is to transfer Sony's business with regard to the planning, development and sales of small- and medium-sized LCD devices to SMD in advance of the transfer of all of the issued shares of SMD from Sony to Japan Display Inc.
This reorganization within Sony is intended to be conducted by way of a "company split" under the Companies Act of Japan.
The purposes of the company split is to transfer Sony's business with regard to the planning, development and sales of small- and medium-sized LCD devices to SMD in advance of the transfer of all of the issued shares of SMD from Sony to Japan Display Inc.
