Site Network: Home |

Canon, Toshiba team up for flat-screen venture


September 15, 2004 - 10:33AM

Major Japanese electronics manufacturers Canon Inc. and Toshiba Corp have announced an agreement to jointly develop, make and sell next generation flat display panels which are thinner than conventional flatscreens.

The two companies are to set up a joint venture to make surface-conduction electron-emitter display (SED) panels in October this year in Hiratsuka, Kanagawa prefecture, southwest of Tokyo, with initial capital of ¥1.0 billion ($US9.1 million).

"SED panels will become the ultimate flat panel technology, as it will achieve CRT (cathode-ray tube) level resolution in a flat panel structure," Toshiba president Tadashi Okamura said at a press conference.

"Therefore, we have decided to devote our resources to the SED technology, rather than spending on other flat display technology," he added.

Canon will hold a majority 50.002 percent stake in the venture, SED Inc., and Toshiba the remaining 49.998 percent, the two companies said, adding that the venture will hire 300 employees by January next year.

SED Inc will begin mass production of SED panels in 2005, but the two firms did not disclose any sales and production targets for the venture.

Canon, Japan's top office equipment and camera maker, began research in the field of SED technology in 1986 and has jointly developed SED panels with Toshiba since 1999.

"Canon and Toshiba, deeming the timing appropriate, agreed upon the establishment of a joint venture," their joint statement said.

"The flat-panel TV segment is expected to continue displaying growth within the television market," it said. "Canon and Toshiba aim to firmly establish SED technology as a new type of flat-panel display."

Both Canon and Toshiba currently have only limited presence in the flat TV market, but with the new joint venture, the two aim to make major inroads into this business and eventually become the top-ranked maker.

Canon makes no flat TVs, including LCD (liquid crsytal display) TVs or plasma display panel (PDP) TVs, while Toshiba makes some LCD-TVs but almost no PDP TVs.

"If we are working alone, we may not have been been able to commercialize this cutting-edge technology. But by teaming up with Toshiba, the best partner for us, we now want to make this technology a global standard," Canon president Fujio Mitarai told the same news conference.

The announcement came after Canon said last weekend it would open its largest research and development center at its headquarters in Tokyo at a cost of at least ¥25 billion.

The facility is expected to house about 1200 researchers, who will conduct basic studies in biotechnology and other new business areas that Canon is aiming to fully enter around 2010.

"The research centre will not handle SED technology, which will be solely developed by the new venture," a Canon spokesman said.
Here's some more info about this.

Thanks to Jeff.


Post a Comment

This website does not recommend the purchase or sale of any stocks, options, bonds or any investment of any kind. This website does not provide investment advice. Disclaimer and Notices: Disclaimer: This website may contain "forward-looking" information including statements concerning the company's outlook for the future, as well as other statements of beliefs, future plans and strategies or anticipated events, and similar expressions concerning matters that are not historical facts. The forward-looking information and statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the statements. The information on this website includes forward looking statements, including statements regarding projections of future operations, product applications, development and production, future benefits of contractual arrangements, growth in demand, as well as statements containing words like believe, estimate, expect, anticipate, target, plan, will, could, would, and other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the results implied or expressed in the forward looking statement. Additional information concerning factors that could cause actual results to differ materially from those in the forward looking statements are included in MVIS most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission under the heading 'Risk factors related to the company's business,' and our other reports filed with the Comission from time to time. Except as expressly required by Federal securities laws, MVIS Blog undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events, changes in circumstances, or other reasons. Legal Notice: Although considerable care has been taken in preparing and maintaining the information and material contained on this website, MVIS Blog makes no representation nor gives any warranty as to the currency, completeness, accuracy or correctness of any of the elements contained herein. Facts and information contained in the website are believed to be accurate at the time of posting. However, information may be superseded by subsequent disclosure, and changes may be made at any time without prior notice. MVIS Blog shall not be responsible for, or liable in respect of, any damage, direct or indirect, or of any nature whatsoever, resulting from the use of the information contained herein. While the information contained herein has been obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. MVIS Blog has not independently verified the facts, assumptions, and estimates contained on this website. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, or completeness of the information and opinions contained on this website. Consequently, MVIS Blog assumes no liability for the accompanying information, which is being provided to you solely for evaluation and general information. This website does not contain inside information, proprietary or confidential information learned or disclosed as part of employment relationships or under nondisclosure agreements or otherwise.