Sharp to Establish Shanghai Appliance R&D Center Next Month Jun 27, 2003

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Sharp Corp. said on Friday that it will set up its first R&D center in Shanghai in July to strengthen its R&D in the field of home appliances in Asia.

The new R&D center will reportedly work closely with its Appliance Systems' product development division in Japan to research, design, and develop appliances such as air-conditioning equipment and washing machines.

Sharp said the new R&D center will be set up inside "Sharp Electronics (Shanghai) Co.," a company it set up in April.

To help establish the R&D center, the capitalization of Sharp Electronics (Shanghai) Co. will be increased by U.S. $3 million to $5 million, Sharp said. (Dow Jones)

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