Sharp Corporation has decided to construct a multiple production plant in Vietnam, and to establish a 100% owned subsidiary to manage the operation of the plant, the company said in a statement on Thursday, August 1, 2019.
The plant managed by the new company will start production of air purifiers, LCD displays, electronic devices etc. from fiscal 2020, it said.
Related: How to establish a subsidiary in Vietnam
Sharp is accelerating its actions to create featured products and services this fiscal year to establish its position as a global brand. By establishing the new company as the core to promote sustainable development for this fiscal year and on in the ASEAN region where high degree economic development is continuing, Sharp will aim to raise its corporate value by utilizing the advantages as One SHARP.
Sharp Corporation (TSE: 6753) is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in liquid crystal displays (LCDs) and digital technologies, Sharp offers one of the broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses.