On November 30, 2012, Tokyo Electron Limited (TEL) has cancelled its joint venture contract with Sharp Corporation (Sharp) and dissolved the joint venture Tokyo Electron PV Limited (Tokyo Electron PV) set up by both companies.
1. Reasons for dissolution
In February 2008, with the purpose of combining both companies’ strengths to generate synergies in the solar panel business, TEL and Sharp established the development joint venture Tokyo Electron PV, and embarked on development of plasma CVD systems for use in thin-film silicon solar photovoltaic cells. This joint project yielded a certain amount of concrete results for both companies, including completion of CVD systems for mass production. The project implementation period was initially planned at 5 years. However, following a review of our planned joint activities, the decision was made to dissolve this joint venture.
2. Outline of the dissolved subsidiary
(1) Company Name: Tokyo Electron PV Limited
(2) Address: 2381-1 Kitagejo, Fujii-cho, Nirasaki City, Yamanashi, Japan
(3) Representative Director: Yoshihito Hoshino, President & Representative Director
(4) Business Operation: Development of plasma CVD systems for use in thin-film silicon photovoltaic cells
(5) Capital Stock: 50 million yen
(6) Establishment: February 6, 2008
(7) Shareholders: TEL 51%, Sharp 49%
3. Dissolution schedule
Conclusion of joint venture contract cancellation agreement: November 30, 2012
Dissolution date: November 30, 2012
Completion of liquidation process (intended date): End of February, 2013
4. Impact on business performance
The impact on consolidated business performance from cancellation of the joint venture contract and dissolution of the consolidated subsidiary is expected to be very limited.