Japan's Canon to buy out Toshiba stake in joint venture, make SED TVs on its own |
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Published
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Fri, 12 Jan 2007 08:41
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TOKYO (XFN-ASIA) - Canon Inc said it will buy out the stake held by Toshiba Corp in their 50-50 joint venture as it has decided to mass-produce SED (surface-conduction electron-emitter display) televisions on its own.Canon has decided to acquire Toshiba's entire stake in SED Inc, which develops and manufactures panels for SED TVs, so that it can quickly settle a legal dispute filed by US firm Nano-Proprietary Inc, the company said in a written statement.The American company licensed a key SED technology to Canon but claims that the agreement does not extend to SED Inc because the firm is not a Canon subsidiary, the Nihon Keizai Shimbun's evening edition earlier reported.The purchase price for the Toshiba stake is believed to be around 10 bln yen, the report said.SED TVs are scheduled to hit markets in Japan in the fourth quarter and Canon will draft a new plan to mass-produce the SED TVs before then, the statement said.(1 usd = 120.55 yen )kaori.kaneko@xfn.com
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Japan's Canon to make SED TVs alone, buy Toshiba stake in venture - report 