The Japan-based venture was announced in August, with follow-up details coming from the companies late Friday. IPS Alpha will manufacture and sell LCD panels for flat panel TVs, with an expected production capacity of 2.5 million 32-inch units per year by the second half of fiscal 2008.
Total project capital for the company is set between $564 million and $658 million (60 and 70 billion Japanese yen), with Hitachi Displays kicking in the bulk $282 million to $329 million (30 to 35 billion yen) for a 50 percent ownership. Toshiba and Matsushita will each contribute $141 million (15 billion yen) for a 21 percent to 25 percent ownership, while other companies are expected to contribute up to another $47 million (5 billion yen) for up to an 8 percent stake in the LCD company. Total investment is set at $1 billion (110 billion yen), the founding company said in a statement.
IPS Alpha will use a TFT LCD display technology called In-Plane-Switching (IPS) mode system, which is distinguished by a wide 170-degree viewing angle, both horizontally and vertically, and minimal gray-scale inversion and viewing-angle dependency.
President of Hitachi Displays, Fumiaki Yonai, will serve concurrently as president of IPS Alpha.