INCJ To Integrate Small and Medium-sized Display Business of Conglomerates

Innovation Network Corporation of Japan (INCJ), a public-private investment fund, Hitachi Ltd., Sony Co.,and Toshiba Co. announced that they have agreed to integrate their small and medium-sized display businesses, which are operated by subsidiaries of Hitachi, Sony and Toshiba. INCJ and those conglomerates will establish a new company, in which INCJ will be a major shareholder (70%) with Hitachi, Toshiba and Sony at 10% each. INCJ plans to invest a total of 200 billion yen and provide financial, technological, and management support.