SONY GROUP CORPORATION [6758.T]
TOKYO, Mar 31 (Pulse News Wire) – Sony Group Corporation (6758.T) and TCL Electronics Holdings Limited have finalized a strategic partnership agreement in home entertainment. Under the deal, Sony will establish a wholly-owned subsidiary to take over its home entertainment business, which TCL will hold 70% and Sony 30%.
The joint venture will operate Sony's consumer TV, commercial flat panel displays, LED screens, projectors, and audio components businesses globally. Additionally, Sony will transfer its manufacturing arm Sony EMCS (Malaysia) Sdn. Bhd. to TCL, along with potential stakes in Shanghai So Guang Imaging Co., Ltd. The total enterprise value of the transferred assets is approximately HKD ¥5.2 billion.
TCL’s payment for the transaction is estimated at around HKD ¥3.8 billion, subject to adjustments based on net debt and working capital at closing. The new joint venture, named BRAVIA Inc., plans to launch operations in April 2027. It will leverage both companies' strengths in branding, technology, sales channels, and supply chains to drive global growth and premiumization. Key executives include Chairman and CEO Kii Ichigo, COOs Jiang Biao and Hirai Fumitomo, and non-executive directors Luo Bin and Nakamura Hiroshi. This collaboration marks a significant step towards enhancing customer value and achieving further growth in the home entertainment sector.
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