Pioneer Corporation and Sharp Corporation today signed a formal contract for the establishment of an optical disc joint venture. The goal of the new joint venture is to make more effective use of the management resources of the two companies in the optical disk business field, and to further expand the business in this area, especially in the highly promising Blu-ray Disc market.

The new company will develop, design, manufacture and sell optical-disk products such as optical disk drives, recorders and players. Pioneer and Sharp plan to launch operations at the joint venture on October 1, 2009.

Company name: Pioneer Digital Design and Manufacturing Corporation
Headquarters: 1-1, Shin-ogura, Saiwai-ku, Kawasaki-shi, Kanagawa, Japan (Within Kawasaki Plant of Pioneer Corporation)
Capital: 6 billion yen (including additional paid-in capital)
Shareholders: Pioneer Corporation (66%), Sharp Corporation (34%)
President: Toshihiko Kurihara (Currently General Manager of Components Business Division of Home Entertainment Business Group of Pioneer Corporation)
Number of directors: 5 (3 from Pioneer, 2 from Sharp)
Number of employees: Approximately 450
Start of operation: October 1, 2009 (Scheduled)
Main businesses: Development, design, manufacture, and sale of optical disc-related products and parts.
Business forecast: Approximately 38 billion yen (during six months from October 1, 2009 through March 31, 2010)