International. NEC Corporation and Sharp Corporation agreed to create a joint venture by combining NEC Display Solutions, NDS, a subsidiary of NEC, with Sharp.
NDS and Sharp are two market-leading brands in the production and development of visual solutions. The Sharp-NEC joint venture will enable both companies to build on their strengths and address the visualization needs of their global customers.
NDS is widely recognized as a leading global provider of visual technology and digital signage solutions for a variety of markets. With a comprehensive, solution-oriented portfolio and reputation as a provider of high-quality displays, NDS has a strong global presence with a large number of global customers.
Like NDS, Sharp is a global developer of innovative enterprise products, including professional and commercial displays, and advanced technologies such as next-generation 8K-Ultra High Definition monitors.
Hisatsugu Nakatani, President of NEC Display Solutions, said: "The joint venture between Sharp and NEC will bring even greater value and benefits to customers and partners by expanding our cutting-edge product portfolios along with a range of professional services offerings. Sharp and NEC follow the same strategic approach to the future of visual solutions, focusing on superior customer satisfaction thanks to high-quality products, excellence in sales leadership and building committed relationships."
Fujikazu Nakayama, Senior Executive Manager, Sharp Corporation and President of BU, Business Solutions BU, said: "We expect this agreement to generate a wide range of synergies, including economies of scale and business expansion in new categories, including an 8K+ 5G ecosystem. Sharp believes that developing NDS as a joint venture with NEC will contribute to the growth of our business by enforcing our BtoB business and expanding sales."
Under the terms of the transaction, NEC will transfer 66% of NDS ownership to Sharp and retain a 34% stake in the business. The joint venture will continue to provide NEC-branded products. NEC will also continue to sell the joint venture's products and solutions to its customers worldwide. The transfer is scheduled to conclude on July 1, 2020.
