Toshiba Corp. and Matsushita Electric Industrial Co. announced Wednesday they will set up two joint ventures in April, each dealing with a different type of electronic display.
In one, the two manufacturers will integrate their liquid crystal display operations in a move aimed at cutting development and production costs.
They also plan to transfer development and production of LCDs to the joint company, which will be owned 60 percent by Toshiba and the remainder by Matsushita. Its capitalization has yet to be decided, they said.