Agreements reached under this partnership
Joint venture- 1
By having TCL subscribe for part of the shares of the company being established, the company being established will become a joint venture owned 51% by TCL and 49% by Sony.
- 2
The new company will assume Sony’s home entertainment business, including product development and design, manufacturing, sales, logistics and customer services related to consumer televisions (BRAVIA), business-use flat-panel displays (B2B BRAVIA), business-use LED displays, projectors, home theater systems and home audio products such as component audio equipment.
- 3
The new company will operate these integrated businesses globally.
- 4
Sony’s 100% interest in Sony EMCS (Malaysia) Sdn. Bhd. (SOEM) will change from Sony to TCL.
- 5
Discussions will continue regarding the transfer of all or part of Sony’s interest in Shanghai Suoguang Video Co., Ltd. (SSVE) to TCL.
These are items that the documents state the two companies will work on. The lines above and below represent arrangements between the two companies.
This indicates whether the companies will do more than work together, such as holding each other’s shares or seconding personnel (capital and business alliance).
The impact on the Company’s consolidated results of the gains or losses recognized from the allocation of part of the shares of the company being established to TCL and the transfer of all of Sony’s interest in SOEM to TCL will be immaterial.
| Item | Details |
|---|---|
| Name of alliance partner | TCL Electronics Holdings Limited, A subsidiary of TCL Electronics Holdings Limited |
| Alliance partner's business activities | Display, innovation and internet businesses |
| Type of alliance | Joint venture |
| Details of the alliance | By having TCL subscribe for part of the shares of the company being established, the company being established will become a joint venture owned 51% by TCL and 49% by Sony., The new company will assume Sony’s home entertainment business, including product development and design, manufacturing, sales, logistics and customer services related to consumer televisions (BRAVIA), business-use flat-panel displays (B2B BRAVIA), business-use LED displays, projectors, home theater systems and home audio products such as component audio equipment., The new company will operate these integrated businesses globally., Sony’s 100% interest in Sony EMCS (Malaysia) Sdn. Bhd. (SOEM) will change from Sony to TCL., Discussions will continue regarding the transfer of all or part of Sony’s interest in Shanghai Suoguang Video Co., Ltd. (SSVE) to TCL. |
| Acquisition price | Expected to be approximately ¥75.4 billion, equivalent to approximately HK$3.8 billion. The final amount will be determined after adjustments at the time of closing. |
| Shareholding ratio | Not disclosed → TCL 51%, Sony 49% |
| Overview of the joint venture | Name: BRAVIA Inc.; Location: Tokyo (within Sony City Osaki, 2-10-1 Osaki, Shinagawa-ku, Tokyo); Business: Assumption and operation of Sony’s home entertainment business; Capital contribution: Not disclosed; Ownership: TCL 51%, Sony 49% |
| Ownership ratio | TCL 51%, Sony 49% |
| Dispatch of directors and officers | The officer structure will include a Representative Director, Chairman and CEO; a Director and Co-COO; and a part-time Director, among others. The source of the seconded officers is Not disclosed. |
| Contract Date | 31 March 2026 |
| Alliance start date | April 2027 (scheduled start of operations by the new company) |
| Impact on Business Performance | The impact on the Company’s consolidated results of the gains or losses recognized from the allocation of part of the shares of the company being established to TCL and the transfer of all of Sony’s interest in SOEM to TCL will be immaterial. |
Items this document does not state (11)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To combine the strengths of Sony and TCL, including their brands, display technologies, sales channels and supply chains, and thereby pursue the new company’s global development, premiumization, creation of customer value and business growth.