Due to unforeseen delays from the COVID-19 pandemic, NEC and Sharp have mutually agreed to delay the launch date of the planned joint venture that would combine NEC Display Solutions, Ltd. (NDS), a subsidiary of NEC Corporation, with Sharp Corporation.
First announced in March, the completion of the transaction was originally planned for July 1. However, as a result of the global health crisis, regulatory approvals remain outstanding. Both companies are moving toward completion of those approvals, but uncontrollable variables have delayed the finalization of the joint venture. The transaction is now expected to be concluded in two to four months from the original July 1 date.
The Sharp and NEC joint venture, to be called Sharp NEC Display Solutions, will allow both companies to address the visualization needs of their global customers. Both companies remain committed to the strategic rationale for the proposed joint venture and will provide further updates in due course.
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