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Home > News Room > Agreement to Make Sony NEC Optiarc Inc. a Wholly-Owned Subsidiary of Sony group

Agreement to Make Sony NEC Optiarc Inc.
a Wholly-Owned Subsidiary of Sony group

September 11, 2008
Sony Corporation
NEC Corporation
Sony NEC Optiarc Inc.

Sony Corporation (hereafter Sony) and NEC Corporation (hereafter NEC) today announced that they have signed an agreement to transfer NEC’s 45% stock in Sony NEC Optiarc Inc. to Sony.

Sony and NEC separated their optical disc drive businesses and combined each company’s respective strengths in the Sony NEC Optiarc Inc. joint venture, established April 3, 2006, with the aim of achieving further business expansion.

As a result of this agreement, Sony will make Sony NEC Optiarc Inc. a wholly-owned subsidiary of the Sony group, and will seek to strengthen its interaction with Sony group’s product and device businesses to further streamline decision-making processes, enhance management responsiveness and further reinforce its next-generation optical disc drive business.

NEC will continue to contribute to the advancement of Sony NEC Optiarc Inc.’s optical disc drive products through the LSI development being carried out at NEC Electronics Corporation.
 

Company Outline after the transfer
Company Name (projected):
Sony Optiarc Inc.
Business Profile:
Development, engineering, production, marketing and
sales of optical disc drive products
Sales:
FY07: Approximately 140 billion yen
Date of Transfer (projected):
December, 2008
Head Office Location:
1-11-1 Osaki, Shinagawa-ku, Tokyo
Representative:
Shinichi Yamamura, Representative Director and President 
Capital (including reserves):
5.1 billion yen 
Number of Employees:
Approximately 320 (As of July 1, 2008)
Directors:
Scheduled to be elected from within Sony Group

 
Completion of the transfer is subject to the approval of governmental authorities and regulatory bodies required in certain countries.

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Inquiries:

NEC Corporate Communications Division
Joseph Jasper/Kazuhito Ohto
Tel: +813-3798-6511

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