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 display market.

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.

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