Sharp to pay $199 million to settle Dell-filed LCD price cartel suit in U.S.

Kyodo

Sharp Corp. says it has agreed to pay $198.5 million, or about ¥15.9 billion, to settle a lawsuit in the United States filed by Dell Inc. and two other companies over alleged price-fixing involving liquid crystal display panels.

“We have decided it is the best way to seek a settlement, taking into account such factors as the U.S. civil lawsuit system and the facts” of the case, Sharp said in a statement Monday.

The Osaka-based electronics company will book the payment as a special loss for the April to June quarter of the business year ending next March, it said.

“We will release our earnings projection including the impact” of the settlement at a later date, Sharp said it in its statement.

Sharp currently expects to log a group net loss of ¥30 billion for this business year.

Dell and the two other companies filed the lawsuit over LCD panel transactions, saying they suffered damage due to inflated prices fixed by a cartel.

The names of the two companies other than Dell can’t be disclosed under the terms of the settlement, Sharp said.

NEC smart energy sales

Kyodo

NEC Corp. said Tuesday it aims to boost sales of its smart energy business, involving energy storage systems and electric vehicle infrastructure, by more than four-fold in five years to ¥300 billion in fiscal 2017.

NEC, which supplies electrodes to electric vehicles produced by Nissan Motor Co., expects to chalk up sales of ¥74 billion this year in the smart energy business sector.