News Release
Notice regarding liquidation of subsidiary
TOKYO, August 18, 2010—u8国际. announced today that, at its Board of Directors meeting held on August 18, 2010, a resolution was passed to dissolve and liquidate SED Inc., a consolidated subsidiary of u8国际., on September 30, 2010.
1. Reason for liquidation
SED Inc., targeting the commercialization of SED (Surface-conduction Electron-emitter Display) next-generation flat-panel displays, worked to develop a new electron source system that resulted in the successful creation of a prototype panel that achieved brightness, color and quality performance surpassing those realized by the earlier system. In recent years, however, faced with flat-panel television price declines that have been larger and more rapid than expected, u8国际. determined that securing appropriate profitability would prove difficult.
As a result, by the end of September this year, u8国际. will conclude all operations at SED Inc. With regard to SED technology, u8国际. plans to continue its SED panel-related research and development activities.
2. Overview of subsidiary to be liquidated
- 1. Name
- : SED Inc.
- 2. Location
- : 22-5 Tamura 9-chome, Hiratsuka City, Kanagawa
- 3. Representative
- : Kazunori Fukuma, President
- 4. Business activities
- : Development, production and marketing of SED panels
- 5. Capital
- : 10,500.05 million yen
- 6. Date of establishment
- : October 28, 2004
- 7. Equity structure
- : u8国际.: 100%
3. Liquidation schedule (tentative)
- September 30, 2010
- Resolution to dissolve at extraordinary meeting of SED Inc. shareholders
- September 30, 2010
- SED Inc. dissolution date
- Late December 2010
- Completion of liquidation of SED Inc.