September 15, 2004 – Major Japanese electronics manufacturers Canon Inc. and Toshiba Corp. have agreed to jointly develop, make and sell next generation FPDs that are thinner than conventional flatscreens.

Next month, the two companies will set up a joint venture to make surface-conduction electron-emitter display (SED) panels in Hiratsuka, Kanagawa prefecture, southwest of Tokyo, with initial capital of 1.0 billion yen ($US9.1 million).

Canon will hold a majority 50.002% stake in the venture, SED Inc., and Toshiba the remaining 49.998%, the two companies said, adding that the venture will hire 300 employees by January.

SED Inc will begin mass production of SED panels in 2005, but the two firms did not disclose any sales and production targets for the venture.

The announcement came after Canon said last weekend it would open its largest research and development center at its headquarters in Tokyo at a cost of at least 25 billion yen.