Effective Nov. 1, 2020, Sharp Corporation (hereinafter “Sharp”) and NEC Corporation (hereinafter “NEC”) completed the previously announced transaction to form a joint venture by Sharp acquiring 66% of shares for NEC Display Solutions Ltd. (hereinafter “NDS”), a subsidiary of NEC. The new website is here.
In connection with the completion of the transaction, NDS has changed its company name to Sharp NEC Display Solutions Ltd. (hereinafter “SNDS”) and has started business operations as a subsidiary of Sharp. The newly formed SNDS will continue its focus on the B2B display business, producing and developing a broad range of visual display solutions for a variety of markets and applications.
Fujikazu Nakayama, senior executive managing officer and business solutions BU president of Sharp, will serve as chairman of the new business and Hisatsugu Nakatani, president of NEC Display Solutions, will serve as president of SNDS.
Both Sharp and NDS display businesses are two market-leading brands in the production and development of visual solutions, and the Sharp-NEC joint venture will result in a wide range of synergies.
Basically, there will be three operating companies, globally:
- Sharp NEC Display Solutions of America, Inc.
- Sharp NEC Display Solutions Europe GmbH
- NEC Viewtechnology Trading (Shenzhen), Ltd.
The company make-up is that Sharp Corporation owns 66% of the new entity and NEC Corporation owns 34% and the new entity will have 950+ employees globally.