Sharp and Pioneer become Blu partners

[radagast]

"Sharp and Pioneer announced today that the companies have entered into a business and capital alliance agreement.

Pioneer will issue 41.4 billion yen ($357 million) in stock to Sharp, giving the Osaka-based Sharp a 14.7 percent stake in Pioneer, making it the company's top shareholder.

Pioneer will also buy a 0.9 percent stake in Sharp for 19.75 billion yen ($171 million). Sharp President Mikio Katayama told reporters at a news conference that there are no plans for now for the two companies to merge.

The agreement was announced on Sept. 20 by Sharp Corp. President Mikio Katayama and Pioneer Corp. President Tamihiko Sudo, in a joint news conference at a hotel in Tokyo.

In addition to the capital alliance, the agreement includes a s joint promotion of the companies' developments related to the next generation DVD, network-related and car electronics fields.

Next-Generation DVD Field

To aim development of new "Next generation DVD" related products, by utilizing Sharp's specialization in device technology such as blue-violet laser diode and Pioneer's specialization in optical disk technology such as drive-module technology and other "in-vehicle" know-how. "

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