INCJ to form LED business with Japan Display, corporates

According to a release, the company - JOLED - will integrate the OLED panel research and development (R&D) functions of Sony and Panasonic. The hope is that the new business - which is to be launched in January, 2015 - will accelerate the early commercialization of OLED panels. INCJ and Japan Display will hold 75% and 15% of the company, respectively, while Sony and Panasonic will each hold 5%.

INCJ and Japan Display also plan to make additional investments to fund a pilot manufacturing plant when the technology is ready for commercialization.

OLEDs are anticipated to be the next-generation display technology as they allow displays to be lighter and thinner. In addition to bringing together research from Sony and Panasonic, JOLED plans to take advantage of Japan Display's extensive portfolio of display technologies with a view to becoming a market leader.

The company will focus manly on medium-size OLED displays for use in tablets, mobile PCs, and signage, where the features of OLED, including thinness and flexibility, can be taken advantage of.

INCJ is currently leading the selection process to bring new management and board members to the new company. Both INCJ and Japan Display will appoint non-executive directors.

Japan Display is the world's biggest maker of screens for tablets and smart phones. The company was formed in 2012 by INCJ through the integration of Sony Mobile Display, Toshiba Mobile Display and Hitachi Displays. The company listed on the Tokyo stock exchange in March, raising $3.1 billion. INCJ is currently its largest shareholder with a 35.6% stake. Sony holds a 1.8% stake, as do Hitachi and Toshiba.

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• Topics
• Technology
• North Asia
• Technology Venture Partners
• Innovation Network Corp. of Japan (INCJ)
• Japan