Bloomberg News

Sony May Require Sharp to Buy Its Stake in Display Joint Venture

March 27, 2012

Sony Corp. (6758), the maker of Bravia TVs, said it may require Sharp Corp. (6753) to buy its 7 percent stake in their display venture.

Sony made the comments today after Foxconn Technology Group (FOXCGZ) and founder Terry Gou said they will invest 133 billion yen ($1.6 billion) in Sharp and its display unit. Foxconn chairman Gou and related investment companies will buy 46.5 percent of Sharp Display Products Corp. for 66 billion yen, the companies said yesterday.

Tokyo-based Sony will not make additional contributions to the venture and may require Sharp to buy its stake if Sharp sells its remaining 46.5 percent in the venture to another company, according to the statement.

Sony and Sharp agreed to continue talks on the future of the venture until Sept. 30.

To contact the reporter on this story: Naoko Fujimura in Tokyo at nfujimura@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net


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