Sharp-NEC Finally Formalized; Now Sharp NEC Display Solutions, or SNDS
November 2, 2020 by Dave Haynes
The joint venture tie-up between Sharp Corporation and NEC Corporation has now been formalized, with the new company to be known from now on as Sharp NEC Display Solutions Ltd. (or SNDS).
The JV is the result, from months ago, of Sharp acquiring 66% of shares for NEC Display Solutions Ltd. Sharp is owned by Taiwan’s Hon Hai Precision, aka Foxconn. It is the world’s biggest technology contract manufacturer.
As of Nov. 1, Sharp NEC Display Solutions will run as a subsidiary of Sharp and continue its focus on the B2B display business.
Fujikazu Nakayama, Senior Executive Managing Officer and Business Solutions BU President of Sharp, will serve as Chairman of the new business and Hisatsugu Nakatani, President of NEC Display Solutions, will serve as President of SNDS.
The PR I was provided lists a senior exec team and board members who are all either Japanese or (I assume) from Taiwan. It does not say who runs the show in the US and Canada, and I suspect there are some duplicated roles that have also been sorted out, notably President/CEO.
Don’t see people using the acronym SNDS, but they can try …
The JV was announced back in Q1 and was supposed to be formal by summer, but COVID-19 messed that up, along with most things.