March 5, 2012 – JCN Newswire — Innovation Network Corporation of Japan (INCJ) and Panasonic Corp. (NYSE:PC) reached a final agreement to transfer the Mobara plant of Panasonic Liquid Crystal Display Co. Ltd, a subsidiary of Panasonic, to Japan Display Inc.
Japan Display (provisional name) is a new company under INCJ that will develop a new manufacturing line for small- and medium-sized display production at the Mobara plant. The deal was originally announced in November 2011, with plans to complete the transfer by April 2012.
INCJ was established in July 2009 as a public-private partnership that provides financial, technological and management support for next-generation businesses. INCJ specifically supports those projects that combine technologies and varied expertise across industries and materialize open innovation.
Panasonic Corporation develops and manufactures electronic products for consumer, business, and industrial sectors. The company’s shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock exchanges. For more information, visit the company’s website at http://panasonic.net.