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Sharp, Pioneer To Jointly Develop Product
Sep 21, 2007
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Sharp and Pioneer have agreed to form capital and business ties, with plans to join forces on the development of next-generation consumer electronics products. Pioneer said it will issue 30 million new shares to Sharp for U.S. $357.3 million on Dec. 20. The private placement will make Sharp the top shareholder of Pioneer, with a 14.28% stake. Sharp will sell 10 million, or 0.9%, of its outstanding shares from its treasury stock to Pioneer for $172.3 million that month.

The two companies said they will combine their expertise to jointly develop products in next-generation DVDs, audio, car electronics, and displays.

In next-generation DVD products, Sharp currently produces blue-violet laser diodes for Blu-ray Disc players while Pioneer contributed drive module technology to the development of the optical disk format.

The companies also plan to jointly develop new network-related products for in home electronics applications.

In mobile electronics, which is a Pioneer strength, the companies look to create new business opportunities by combining Sharp's technology in small- and medium-size displays, communication and sensor technology with Pioneer's car navigation technology and other car electronics technologies.

In imaging applications, the two look to expand both companies' display businesses and develop new A/V products based on future display technologies such as OEL displays.

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