SHARP $82 million 280 thousand acquisition of Nanjing SHARP completely completed solely

Nanjing panda day pre disclosure, the company will sell its holdings of Nanjing Sharp Electronics Corporation in the 25 June shares. By then, SHARP will have a full stake in Nanjing SHARP.

Nanjing panda said, in view of the consumer electronics industry in Nanjing SHARP in the fierce competition and high risk, and declining profits, has 10 days this month, signed an agreement with SHARP Corporation in Japan, which will be held next Tuesday to $10 million 146 thousand (about 82 million 282 thousand yuan) all the shares held by the price of the acquisition of Nanjing SHARP 8.72%. After the transfer of Nanjing panda will focus on the telecommunications equipment business, while Nanjing SHARP will become a wholly owned subsidiary of SHARP, japan.

Nanjing SHARP was founded in 1996, the original registered capital of $24 million 580 thousand, which accounted for 70% of Japan's SHARP, Nanjing panda accounted for 30%. In September this year, Nanjing SHARP $60 million Sharp Co to buy all the new shares, the shareholding ratio is 91.28%. Nanjing SHARP fiscal year ended December 31, 2004 sales and net profit was 2 billion 240 million yuan and 11 million 500 thousand yuan.

SHARP business (China) Co., Ltd. (hereinafter referred to as SHARP business), the relevant responsible person believes that the integrity of the Nanjing SHARP control is conducive to the operation of SHARP in china. Nanjing SHARP is mainly engaged in the production of consumer electronics industry, sales of LCD TV, projection TV, large screen color TV and audio equipment and provide the corresponding after-sales service.

Nanjing SHARP is one of the world's 5 largest LCD production base in SHARP." At present, SHARP has more than and 70 production bases for different products in the world, but the LCD TV production base is located in China, the United States, Spain, Mexico, Malaysia.

The LCD screen is produced in Kameyama plant in japan. Nanjing SHARP production and the chip, circuit and other products. Products are mainly exported to Europe, the United States and Japan, etc..

But in October 1st after SHARP, SHARP Nanjing as the center to focus on the development and adjustment of liquid crystal business.

According to the person in charge of SHARP business home appliances division Planning Division said that in October 1st the official business of the SHARP business is the integration of the establishment in Shanghai, Changshu, Nanjing SHARP Factory Sales Department, set up a sales company, engaged in electrical and electronic products, electronic sales department. After integration, the original SHARP Nanjing in the domestic sales of LCD TVs and other businesses are owned by the SHARP business door, only focus on the production and retention of LCD TV and parts export business.

In addition, according to Kanno Nobuyuki, Vice Minister of overseas business division, said SHARP, SHARP is planning to build a LCD panel in china. The reporter learned from the relevant person in charge of Nanjing Sharp Electronics Corporation, SHARP, the panel will be built in Nanjing, it is likely to be in SHARP factory in Nanjing. "Fully owned by Nanjing SHARP will benefit SHARP's business expansion in china".