Matsushita, Toshiba to Form LCD Company

OSAKA, Japan, Feb. 4 -- Matsushita Electric Industrial Co. announced it will divide and transfer its liquid crystal display (LCD) and related businesses into a new company, Toshiba Matsushita Display Technology Co. Ltd., to be jointly established with Toshiba Corp. effective April 1.

The new company will allow Toshiba and Matsushita to increase their global competitiveness and accelerate development of emerging applications, including LCD TVs and Internet appliances, according to Matsushita. It will further expand LCD applications by realizing system-on-glass technology, with an aim to become a leading company in LCD and next-generation display devices, the company said.