Sony, Toshiba, Hitachi to Merge LCD Operations

The companies will spin off and merge the businesses to create Japan Display K.K. by spring 2012, the three Tokyo-based electronics makers said today. The government-backed Innovation Network Corp. of Japan will own 70 percent of the venture after a 200 billion yen ($2.6 billion) investment, while Sony, Toshiba and Hitachi will split the remaining 30 percent, they said.