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Sharp And NEC Complete Joint Venture, Form Sharp NEC Display Solutions

Sharp, NEC

Sharp Corporation and NEC Corporation have completed of the acquisition of 66 percent of the shares of NEC Display Solutions, Ltd. (NDS), a subsidiary of NEC. As a result of the acquisition, NDS will become a subsidiary of Sharp and a joint venture with NEC retaining 34 percent of its shares. The joint venture has been renamed Sharp NEC Display Solutions (SNDS) and will focus on the B2B display business. SNDS will be headed up by Fujikazu Nakayama, who will serve as Chairman of the new business, while Hisatsugu Nakatani serves as President.

Over the coming months, the Americas teams of both Sharp and SNDS intend to work closely together to develop strategies to maximize the value of the joint venture to the companies’ partners. During this period, both teams will continue to operate as they do now and continue to support their respective customers as they have been doing.

Earlier coverage of this story, posted by Sound & Communications on 6/24/20:

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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