Toyko – March 25, 2020 - NEC Corporation and Sharp Corporation have agreed to create  a joint venture by combining NEC Display Solutions, Ltd. (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 allow both companies to build upon 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 worldwide presence with a large number  of global customers. 

Like NDS, Sharp is a worldwide developer of innovative  business products, including professional and commercial displays, and advanced  technologies like next generation 8K-Ultra High Definition monitors.

"NEC offers one of the broadest visual solutions portfolios  in the industry, and with a consultancy-led sales approach, NEC is recognized as  a trusted advisor and total solutions provider," said Hisatsugu Nakatani,  President, NEC Display Solutions, Ltd. "This joint venture between Sharp and  NEC Display Solutions will bring even greater value and benefits to customers  and partners by extending our state-of-the-art product portfolios together with  a range of professional service offerings. Sharp and NEC Display Solutions  follow the same strategic approach to the future of visual solutions, focusing  on superior customer satisfaction enabled by high quality products, sales  leadership excellence and committed relationship building."

"The combination of Sharp's and NDS' international  strengths is mutually complementary," said Fujikazu Nakayama, Senior Executive  Managing Officer, Sharp Corporation and BU President, Business Solutions BU.  "We expect this agreement to result in 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 our business growth by enforcing our BtoB business and expanding  sales."

Under the terms of the transaction, NEC will transfer 66%  ownership of NDS to Sharp, and retain a 34% equity 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  around the world. The transfer is scheduled to be concluded on July 1st, 2020.