International. On March 25, 2020, the planned joint venture combining NEC Display Solutions with Sharp Corporation was announced. Due to unforeseen DELAYS from COVID-19 and the global pandemic, NEC and Sharp mutually agreed to delay the launch date of the joint venture.
Completion of the transaction was originally planned for July 1, 2020. However, as a result of the global COVID-19 pandemic, regulatory approvals are still pending. Both companies are moving toward finalizing those approvals, but uncontrollable variables have delayed the completion of the joint venture. The transaction is now expected to be completed in two to four months from the original date of July 1, 2020.
The Sharp and NEC joint venture, which will be called Sharp NEC Display Solutions, will be mutually complementary and will allow both companies to build on their strengths and address the viewing needs of their global customers.
Both companies remain committed to the strategic logic of the proposed joint venture and will provide further updates in due course. Meanwhile, it remains the business of course for Sharp and NEC Display Solutions.
