Sony Unlikely to Raise Stake In Sharp Venture by End of Month
Sony Corp. is unlikely to raise its stake in its liquid crystal panel production joint venture with Sharp Corp. by the end of this month as originally planned, people familiar with the matter said Tuesday.
Sony, which currently holds a seven percent stake in Sharp Display Products Corp., had planned to raise that stake to 34 percent by the end of this month. The two Japanese electronics makers signed an agreement in July 2009 to set up the joint venture, which produces LCD panels at Sharp’s Sakai plant in Osaka.
Production is currently temporarily suspended at Sharp’s two LCD panel plants–its Sakai plant and Kameyama plant in Mie Prefecture–after the March 11 earthquake.