Japan’s V-Technology to form China joint venture to assist flexible OLEDs makers
TOKYO, NNA - Japan’s V-Technology Co., which provides systems for manufacturing flat panel displays and semiconductors, will set up a joint venture in China to help high-tech makers improve their yield of flexible organic light-emitting diodes (OLEDs).
V-Technology and Tinglin Capital (Kunshan), which invests in business ventures, have reached a basic agreement on the establishment of the joint venture in Kunshan in the eastern coastal province of Jiangsu in November with a capital of about $926 million, V-Technology said in a statement on Wednesday.
The joint firm, named V-Tech Shining Color Technology (Kunshan) Co., will be equally owned by V Investment China Co., a V-Technology subsidiary to be established in Shanghai in October, and Tinglin Capital.
The new firm will provide services to help manufacturers improve their yield of flexible OLEDs, which have been growing in demand for use in cutting-edge electronic products including foldable smartphones and rollable TV screens because of their flexibility in designing screens.
V-Technology has proprietary technology to eliminate the unevenness in the luminance of screens that occurs in the process of OLED production, a V-Technology spokesman said.
The joint venture aims to spread its “salvage” services from China to South Korea, Japan and beyond, and to be listed on stock exchanges in China in a few years, the statement said.
V-Technology’s new wholly-owned investing subsidiary, V Investment China Co., will be established to expand its yield-improving services in China, the company said in a separate statement.
At present, V-Technology is providing equipment for manufacturing flat panel displays and semiconductors in China through its seven locally-based group companies. The new subsidiary will be established to invest in Chinese companies and in its group companies to help accelerate their business expansion “by tactically responding to changes in the high-tech industry market in China,” the statement said.