Sony Corp. may shortly make an announcement on details of a venture with Sharp Corp. to make liquid-crystal displays, an executive said.
Tokyo-based Sony, which makes Bravia televisions, will “boost competitiveness” through the LCD venture, Ryoji Chubachi, Sonyâ€™s vice chairman said in an interview in Karuizawa, Nagano prefecture, today.
Sonyâ€™s initial investment in the venture may be as much as 60 billion yen ($633 million), the Nikkei newspaper reported earlier, without saying where it obtained the information. Sony and Sharp announced a plan to jointly produce LCDs in 2008. Sony was not the source of the Nikkei report, Shinji Obana, the companyâ€™s Tokyo-based spokesman said by phone today.
Sony shares rose 1.7 percent to 2,370 yen as of 9:10 a.m. on the Tokyo Stock Exchange, extending its gain this year to 23 percent.
By Mariko Yasu and Shunichi Ozasa (bloomberg.com)