Toshiba to take 100 per cent stake.
Toshiba and Panasonic are set to part ways, according to Reuters, with the LCD joint-venture between the two parties – Toshiba Matsushita Display Technology – to be taken over entirely by Toshiba.
Currently Toshiba owns a 60 per cent stake in TMDT, with Panasonic – (s)the artist(/s) formerly known as Matsushita – in command of the other 40 per cent. Toshiba will apparently be forking out “several billion Yen” to take control of Panasonic’s share in the company.
TMDT is the world’s second largest manufacture of LCD panels for in-car navigation systems, mobile phones and other devices. However, the company is expected to post a ¥30 billion loss this financial year, as a result of decreased demand and falling prices – no doubt a contributor to Panasonic’s withdrawal.
Panasonic still has a stake in another LCD joint-venture with Hitachi and Canon, not to mention its own TV production facilities.