Taiwanese manufacturing giant Hon Hai Precision Industry Co (鴻海精密) and its Japanese subsidiary, Sharp Corp, are planning to set up a company that would produce cameras for use in cars, the Nikkei Asian Review reported yesterday.
Citing sources close to the investment, the Japanese newspaper said that Hon Hai and Sharp would invest about ￥3 billion (US$28.1 million) in the joint venture.
Hon Hai would take a 51 percent stake, leaving Sharp with the remaining 49 percent, the sources said.
The venture is expected to use advanced 8K resolution technology to produce displays for vehicle cameras, with the objective of supplying such devices to automakers worldwide, they said.
Sharp already produces automatic cameras using 8K technology for the commercial production of televisions and cameras, the Nikkei Asian Review said.
The venture is expected to take advantage of Hon Hai’s sales networks in Taiwan, China, North America and other areas to market the automatic cameras, the report said.
The move comes amid growing demand for electronic components as autonomous driving technology is being developed, it added.
FIT Hon Teng Limited (鴻騰精密), a Hong Kong-listed subsidiary of Hon Hai, earlier this month issued a statement saying it has reached an agreement with Sharp to establish a joint venture to develop technology and produce electronic components for use in cars.
Sharp has been keen to raise its stake in Japan-based smartphone camera lens supplier Kantatsu Co and last month boosted its stake to 53.5 percent from 44.3 percent, Taiwanese media reported.
Hon Hai owns 66 percent of Sharp after acquiring the company for US$3.5 billion in August 2016, making it the first Taiwanese firm to own a majority stake in a major Japanese tech firm.
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