Sony Corp., Toshiba Corp., Hitachi Ltd. and Innovation Network Corporation of Japan announced Wednesday a plan to merge their operations and create the biggest company in the global market for small and medium-size liquid crystal displays, which are used in products such as smartphones and tablet computers.
After the merger, the new company, Japan Display, will have the largest global market share of 22 percent in the small and mid-size LCD sector, ahead of Sharp Corp. with 15 percent and South Korea's Samsung Electronics Co.'s 12 percent.
INCJ, a government-backed investment fund that aims to boost the competitiveness of domestic firms, will invest ¥200 billion in Japan Display. The merger will integrate Hitachi Displays Ltd., Sony Mobile Display Corp. and Toshiba Mobile Display Co.