|By JCN Newswire||
|February 6, 2013 03:41 AM EST||
Tokyo, Feb 6, 2013 - (JCN Newswire) - JUKI Corporation ("JUKI") and Sony Corporation ("Sony") today announced that they have signed a legally non-binding memorandum of intent to carry on the discussion regarding the possible integration of the surface-mount technology ("SMT") equipment and related businesses of JUKI and Sony EMCS Corporation, a wholly owned subsidiary of Sony ("Sony EMCS"), under a newly established company ("New Company"). This integration is intended to strengthen the competitiveness of each company's respective SMT equipment and related businesses. The New Company is expected to be established by capital injection from JUKI and Sony, respectively, with JUKI holding more than two thirds of the total shares.
JUKI and Sony will continue further discussions with the aim of entering into a legally binding definitive agreement and proceeding with this business integration by the end of September, 2013, subject to any necessary approvals of the authorities concerned.
Sony Corporation Corporate Communications T: +81-3-6748-2200 E: [email protected]
Copyright 2013 JCN Newswire. All rights reserved. www.japancorp.net
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