Japan Display Inc., an alliance of three major electronics manufacturers, opened for business Monday with the aim of becoming the world's leader in small and midsize displays.
The firm can become the market's "global leading company" through cutting-edge technology, advance investment and quick decision-making, Japan Display CEO Shuichi Otsuka said Monday, the first business day after its official launch Sunday. The company is especially focusing on displays for smartphone and tablet PC devices, which are expected to dominate sales over the next several years.
"We will invest in potential markets and make sure that we will steadily grow our business there. Smartphones and iPads are the top growth-potential products in this small and midsize display field," Otsuka said at a news conference in Tokyo.
Otsuka said the company, which has six domestic production bases and three overseas, aims to go public on the Tokyo Stock Exchange by 2015.
Japan Display is a joint venture that was formed by combining the small and midsize display segments of Hitachi Ltd., Sony Corp. and Toshiba Corp. Innovation Network Corp. of Japan, a semigovernmental fund, led the merger of the three companies with a ¥200 billion investment aimed at creating a company that can survive fierce international competition, especially with its fellow Asian rivals, such as Samsung Electronics Co.
The firm has the largest global market share for small and midsize panels at 20 percent in terms of sales, putting it ahead of Sharp Corp. and Samsung.