From the Wires
JUKI and Sony Sign Memorandum of Intent Regarding Integration of SMT Equipment and Related Businesses
Feb. 6, 2013 03:41 AM
The New Company is expected to be established by capital injection from JUKI and Sony, respectively, with JUKI holding more than two thirds of the total shares.
Tokyo, Feb 6, 2013 - (JCN Newswire) - JUKI Corporation ("JUKI") and Sony Corporation ("Sony") today announced that they have signed a legally non-binding memorandum of intent to carry on the discussion regarding the possible integration of the surface-mount technology ("SMT") equipment and related businesses of JUKI and Sony EMCS Corporation, a wholly owned subsidiary of Sony ("Sony EMCS"), under a newly established company ("New Company"). This integration is intended to strengthen the competitiveness of each company's respective SMT equipment and related businesses. The New Company is expected to be established by capital injection from JUKI and Sony, respectively, with JUKI holding more than two thirds of the total shares.
JUKI and Sony will continue further discussions with the aim of entering into a legally binding definitive agreement and proceeding with this business integration by the end of September, 2013, subject to any necessary approvals of the authorities concerned.
Sony Corporation is a leading manufacturer of audio, video, game, communications, key device and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be the leading electronics and entertainment company in the world. Sony recorded consolidated annual sales of approximately $79 billion for the fiscal year ended March 31, 2012. Sony Global Web Site: http://www.sony.net/
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