Newly Formed Sharp NEC Display Solutions Starts Operations

CHICAGO–(BUSINESS WIRE)–Effective November 1, 2020, Sharp Corporation (hereinafter �Sharp”) and NEC Corporation (hereinafter “NEC”) completed the previously announced transaction to form a joint venture by Sharp acquiring 66% of shares for NEC Display Solutions Ltd. (hereinafter “NDS”), a subsidiary of NEC.

In connection with the completion of the transaction, NDS has changed its company name to Sharp NEC Display Solutions Ltd. (hereinafter “SNDS”) and has started business operations as a subsidiary of Sharp. The newly formed SNDS will continue its focus on the BtoB display business, producing and developing a broad range of visual display solutions for a variety of markets and applications.

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.

This new company represents an ongoing commitment to the display solutions business. Both Sharp and NDS display businesses are two market-leading brands in the production and development of visual solutions, and the Sharp-NEC joint venture will result in a wide range of synergies. Known worldwide for a commitment to high-quality products, focus on customer support and outstanding partner relationships, SNDS approaches this new opportunity with plans to continue delivering high-quality, innovative solutions to its customers around the world.

? Outline of Company (as of November 1, 2020)

(1) Name: Sharp NEC Display Solutions Ltd.

(Former: NEC Display Solutions Ltd.)

(2) Location: Mita Kokusai Building, 4-28, Mita 1-chome, Minato-Ku, Tokyo, Japan

(3) Business Description: Development, manufacturing and sales of visual display products and visual display solutions worldwide

(4) Members of the Board

Representative Director, Chairman(part time)	Fujikazu Nakayama
Representative Director, President	Hisatsugu Nakatani
Members of the Board (part time)	Ray-Shyang Lin
	Toyoaki Namba
	Yasukazu Kobayashi
	Kiyotake China
	Toshinori Kusaba
Auditors (part time)	Makoto Izumi
	Kouji Suzuki
	Masami Usuda

(5) Executives

President	Hisatsugu Nakatani
Executive Managing Officers	Atsushi Kuroda
	Makoto Iwasaki
Executive Officers	Makoto Oshikawa
	Shigeru Matsuura
	Shusaku Maeda
	Kazuei Mochizuki
	Mitsunori Aizawa

(6) Capitalization: 3 billion yen

(7) Date established: January 18, 2000

(8) Major shareholders and shareholding ratios: Sharp Corporation 66%, NEC Corporation 34%

(9) Employees: Approx. 950 (consolidated worldwide)

(10) Affiliated companies

Sharp NEC Display Solutions of America, Inc.

Sharp NEC Display Solutions Europe GmbH

NEC Viewtechnology Trading (Shenzhen), Ltd.*3

*3?Company name scheduled to be changed to Sharp NEC Display Solutions (China), Ltd. by January 2021.

About Sharp NEC Display Solutions Ltd.

Sharp NEC Display Solutions Ltd. is the leading global provider of professional and commercial visual technology and digital signage solutions, owned jointly by Sharp Corporation and NEC Corporation. Sharp NEC Display Solutions offers one of the broadest visual solutions portfolios in the industry, innovating in LCD displays, lamp and laser projectors, dvLED, 8K and 5G technology, collaboration solutions, calibration tools, IoT and AI driven analytics. Sharp NEC Display Solutions is a trusted name and a total solutions provider with strong ties to industry partners, and has a reputation for quality, reliability, and industry-leading customer support with a range of professional service offerings. Serving a wide variety of markets, the organization’s expertise spans retail, enterprise, education, entertainment, transportation, energy and utility, and more. For more information, please visit www.sharpnecdisplays.com.

Contacts

Tory Patrick

Tech Image (for Sharp NEC Display Solutions)

(312) 533-9823

tory.patrick@techimage.com