• Kyodo

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Sony Corp. said Monday it will terminate its joint venture with Samsung Electronics Co. for producing liquid crystal displays for televisions.

Sony will sell its 50 percent stake in South Korea-based S-LCD Corp. back to Samsung for 1.08 trillion won (¥73 billion), making S-LCD a wholly owned subsidiary of Samsung. The transaction is expected to be completed by the end of January, it said. In connection with the action, Sony expects to log an impairment loss of about ¥66 billion in the September-to-December quarter, while reducing its procurement costs by approximately ¥50 billion annually.

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