CORRECTION - Japan's Canon to buy out Toshiba stake in SED joint venture |
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Published
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Fri, 12 Jan 2007 10:09
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TOKYO (XFN-ASIA) - Canon Inc says 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) television panels 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 US 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 panels for SED TVs before then, the statement said.(1 usd = 120.55 yen)kaori.kaneko@xfn.com
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Japan's Canon to buy out Toshiba stake in joint venture, make SED TVs on its own 