TDK Corp has announced a three-way business alliance relating to the organic EL display business involving the company, wholly-owned TDK subsidiary TDK Micro Device Corp and Futaba Corp. TDK Micro Device Corp and Futaba Corp will also enter into an equity-based alliance.

TDK and TDK Micro Device Corp are developing and manufacturing organic electro-luminescent (EL) displays targeted mainly at the mobile phone and portable audio player market. Futaba Corp, meanwhile, is a manufacturer of vacuum fluorescent displays (VFD) and field emission displays (FED), and has traded with customers in the auto and consumer equipment industries for many years.

The aim of the equity-based business alliance is to develop new organic EL products, leveraging the organic EL development and mass-production technologies possessed by TDK and TDK Micro Device Corp and Futaba Corp's strength in the display industry, to open up new markets in the organic EL display business.

The three companies will work together to develop organic EL displays and other materials for wide-ranging potential markets including automobiles and consumer electronics, leveraging the features of these displays that enable slim profiles and high resolution. They will also work to cultivate markets.

Under terms of the equity-based alliance, TDK Micro Device Corp will conduct a private placement of shares to raise capital to Futaba Corp.