[Asia Economy Reporter Yuri Kim] Japanese electronics company Sharp will spin off its core liquid crystal panel division during the 2020 fiscal year (April 2020 to March 2021).
According to Kyodo News and other foreign media on the 29th, Sharp decided to spin off the liquid crystal business division, 'Display Device Company,' which has been operated independently within the company, to raise external funds and restructure it into a form suitable for new investments such as the development of next-generation liquid crystal panels.
With this spin-off decision, decision-making in the liquid crystal business is expected to accelerate. Display Device Company operates factories producing small- and medium-sized liquid crystal panels used in smartphones, as well as organic LED panel factories.
Display Device Company recorded sales of 651.4 billion yen (approximately 7.519 trillion KRW) in the 2019 fiscal year. This accounts for about 30% of Sharp's total sales based on consolidated financial statements.
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