IPS Alpha Technology is a new company being formed by Hitachi, Matsushita (Panasonic), Toshiba, and Hitachi Displays for - you guessed it - the manufacture and sale of LCDs.

I'm thinking this will be direct competition to S-LCD, a similar venture announced by Samsung and Sony over the summer.

Hitachi Manufacturing Corporation, Matsushita Electric Industries Corporation, Toshiba Corporation, and Hitachi Displays Corporation officially announced o­n the 29th that the four companies have concluded arrangements for joint management contracts, for the establishment of a new corporation to manufacture and sell LCD panels as wrought by a basic agreement o­n August 31st.

The name of the new jointly managed company will be "IPS Alpha Technology Corporation," and it is scheduled for inauguration o­n January 1st 2005. The CEO position will concurrently be held by Mr. Fumiaki Yonai, current CEO of Hitachi Displays Corporation.

IPS Alpha Technology will manufacture LCD panels under the IPS system developed by Hitachi Displays. They will primarily be handling the manufacture of amorphous TFT LCD panels for TVs over 23 inches. The company, along with Toshiba and Matsushita, has said "we will utilize the synergy created by close-knit cooperation of set-maker and panel-maker, and will offer competitive LCD panels and LCD TVs both efficiently and cost-friendly."

Furthermore, IPS Alpha Technology's capital stock will be 60 to 70 billion yen. The investments will come from Hitachi Displays (30 - 35 billion {50%}), Toshiba (15 billion {21 - 25%}), and Matsushita (15 billion {21 - 25%}). The production rate, when at the 32" level, will be approximately 25 million units per year.

Inspired by:
http://www.watch.impress.co.jp/av/docs/20041029/ips.htm

Press Release (English, Matsushita):
http://www.panasonic.co.jp/corp/news/official.data/data.dir/en041029-2/en041029-2.html

Press Release (Japanese, Hitachi):
http://www.hitachi.co.jp/New/cnews/month/2004/10/1029a.html