Seiko Epson Corporation ("Epson") and Sony Corporation ("Sony") today
announced that as of December 1, the sales function of the small- and
medium-sized TFT LCD business (excluding high-temperature polysilicon
TFT LCDs, etc.) of Epson Imaging Devices Corporation ("Epson Imaging")
would be transferred to Sony and Sony Mobile Display Corporation
("SMD").
On June 30, 2009, Epson and Sony announced the execution of an
agreement to transfer to the Sony group certain assets of the small-
and medium-sized TFT LCD business operated by Epson Imaging. Placing
foremost priority on the needs of its customers, Epson Imaging has
continued its preparations as it has sought to transfer the sales
function of that business to the Sony group by the end of the calendar
year. As preparations are now complete, the sales function of that
business will be transferred to the newly established SMD sales
department and Sony group overseas sales offices on December 1. In
accordance with this transfer, Epson Imaging will cease worldwide sales
activities on November 30, and some of the staff employed in that
business will be either transferred or seconded to the Sony group.
Expediting the assumption of the sales function will allow the Sony
group to create a powerful small- and medium-sized TFT LCD business
with a broad product lineup and a structure capable of responding even
better to the needs of its customers.
The Epson group will work to assure a smooth and expeditious transfer,
scheduled to be carried out by April 1, 2010, of certain
manufacturing-related assets of Epson Imaging for that business, and
will continue to work closely with the Sony group to facilitate the
further growth and success of the small- and medium-sized TFT LCD
business.
