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TOKYO (Dow Jones)--Toshiba Corp. (6502.TO) plans to take full ownership of an LCD panel-making joint venture with Panasonic Corp. (6752.TO), a person familiar with the matter said Saturday.
Toshiba, which has a 60% stake in Toshiba Matsushita Display Technology Co., is to purchase the remaining shares from Panasonic for "several billions of yen," the person said, declining to elaborate.
Panasonic wasn't available for immediate comments.
Toshiba Matsushita Display Technology was established in 2002 by combining the LCD businesses of Toshiba and Panasonic, which was then called Matsushita Electric Industrial Co. It makes LCD panels used for such devices as cellular phones and car navigation systems.
After turning the joint venture into its wholly-owned subsidiary, Toshiba aims to overhaul the struggling joint venture by shifting focus to polycrystalline silicon panels, which offer higher quality images for high-end products, from amorphous silicon panels, the person said.
The joint venture is expected to lose Y30 billion on an operating basis for the current fiscal year ending March 31 on top of planned revenue of Y270 billion
Toshiba, which has a 60% stake in Toshiba Matsushita Display Technology Co., is to purchase the remaining shares from Panasonic for "several billions of yen," the person said, declining to elaborate.
Panasonic wasn't available for immediate comments.
Toshiba Matsushita Display Technology was established in 2002 by combining the LCD businesses of Toshiba and Panasonic, which was then called Matsushita Electric Industrial Co. It makes LCD panels used for such devices as cellular phones and car navigation systems.
After turning the joint venture into its wholly-owned subsidiary, Toshiba aims to overhaul the struggling joint venture by shifting focus to polycrystalline silicon panels, which offer higher quality images for high-end products, from amorphous silicon panels, the person said.
The joint venture is expected to lose Y30 billion on an operating basis for the current fiscal year ending March 31 on top of planned revenue of Y270 billion
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