Toshiba Buying Out Panasonic LCD Stake

March 30, 2009

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Toshiba is planning to take full possession of its LCD production joint venture with Panasonic, sources told Reuters.

According to the report, Toshiba, which currently owns Toshiba Matsushita Display Technology on a 60/40 basis, will purchase the rest from Panasonic, for "several billion yen." The venture is the world's second-largest producer of small-to-medium LCD panels, such as those used in cell phones.

Panasonic will still own a small stake in a small-LCD joint venture with Hitachi.