Sony and Panasonic Join OLED JV
JOLED to be majority owned by Innovation Network Corp. of Japan
July 31, 2014
TOKYO—Sony, Panasonic, Innovation Network Corp. of Japan and Japan Display Inc., announced today that they have
executed a definitive agreement to establish a new company, JOLED, to integrate Sony and Panasonic’s R&D functions for
organic light-emitting diode display panels. Through this
collaboration, the companies aim to accelerate the development and early
commercialization of OLED display panels. JOLED is scheduled to be
launched in January 2015, subject to receipt of any necessary approvals.
INCJ and Japan Display will respectively hold 75 percent and 15 percent of the voting rights in
JOLED, and Sony and Panasonic will each hold 5 percent. In addition, INCJ and Japan Display plan to make additional investments to fund a pilot manufacturing
plant when the technology is ready for commercialization.
OLED displays offer great promise as the next-generation display
technology due to their light-emitting properties, which enable displays
to be lighter and thinner. JOLED will bring together OLED
display technologies from Sony and Panasonic, including use of printing
technology for OLED production, transparent amorphous oxide
semiconductors, and flexible display technology. In addition, JOLED
plans to take advantage of Japan Display’s portfolio of display
technologies. JOLED’s aim is to become the leader in the global OLED
JOLED plans to focus primarily on development of medium-size OLED
displays for use in tablets, mobile PCs, and signage, where the unique
features of OLED, including lightness/thinness and flexibility, can be
leveraged. JOLED will aim to bring innovative products by leveraging
flexible display technologies, aiming for improved moldability and
durability as well as further reduction in weight.
JOLED plans to bring new management on board, and INCJ is currently
leading the selection process. Both INCJ and Japan Display will appoint
non-executive directors and plan to establish governance framework
appropriate to build a strong management foundation.