Sony, Toshiba and Hitachi merging their mobile display divisions

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Three of the largest Japanese tech companies – Sony, Toshiba and Hitachi, are going to sell their mobile display divisions for  €1.86 billion to Japan Display, part of Innovation Network Corporation of Japan. The new owners are going to unite the three companies. INCJ are also going to buy one of Panasonic’s display factories, which is specialized in manufacturing small and midsize LCD displays. INCJ are going to own 70% of the newly-formed company and the previous owners will share the other 30%. INCJ is a company with both private and public financing, which the Japanese government is using to help the local industry.

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