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Business: Sony and NEC to establish "Sony NEC Optiarc"
Posted on Feb 27, 2006 - 03:49 PM by zmcnulty
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Posted on Feb 27, 2006 - 03:49 PM by zmcnulty
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Sony Corporation and NEC Corporation announced on the 27th that they have concluded a formal contract to for the establishment of a joint venture in the optical disc drive industry, as was announced in November of last year.
The name of the new company is "Sony NEC Optiarc Corporation," and establishment is slated for April 3, 2006. The new company will concentrate on the development, design, manufacture, marketing, and selling of optical disc drive products.
Mr. Shinichi Yamamura, current Deputy President of Sony Corporation's Video Business Group, will assume the role of president of the company. The capital investment is 490 million yen, with Sony holding 55% of the stock, and NEC the remaining 45%. The company plans to have around 350 employees. In accordance with the establishment of the new company, Sony and NEC have set April 1st as the date by which they are to separate each of their existing optical disc drive product-related companies, which are to be inherited by the new corporation.
Inspired by:
http://www.watch.impress.co.jp/av/docs/20060227/sonynec.htm
Sony Press Release (English):
http://www.sony.net/SonyInfo/News/Press/200602/06-017E/index.html
NEC Press Release (English):
http://www.nec.co.jp/press/en/0602/2701.html
The name of the new company is "Sony NEC Optiarc Corporation," and establishment is slated for April 3, 2006. The new company will concentrate on the development, design, manufacture, marketing, and selling of optical disc drive products.
Mr. Shinichi Yamamura, current Deputy President of Sony Corporation's Video Business Group, will assume the role of president of the company. The capital investment is 490 million yen, with Sony holding 55% of the stock, and NEC the remaining 45%. The company plans to have around 350 employees. In accordance with the establishment of the new company, Sony and NEC have set April 1st as the date by which they are to separate each of their existing optical disc drive product-related companies, which are to be inherited by the new corporation.
Inspired by:
http://www.watch.impress.co.jp/av/docs/20060227/sonynec.htm
Sony Press Release (English):
http://www.sony.net/SonyInfo/News/Press/200602/06-017E/index.html
NEC Press Release (English):
http://www.nec.co.jp/press/en/0602/2701.html
Also in Business: | Also in Sony: |
| Comments (must be registered to post) | |
| zmcnulty
27.02.06, 15:53 |
I find this a curious move. NEC is a "Managing Member" of the HD DVD Promotion Group: http://www.hddvdprg.com/about/member.html But we all know Sony will have none of HD DVD. So what's going on; did Sony convince NEC to jump ship? |
