Japan Display, a new firm that deals with middle- and small-size displays, started operations April 1, 2012.
"We aim to become a global leading company born in Japan," Japan Display President Shuichi Otsuka said. "We will make quick decisions with the flat organization."
Japan Display was established mainly by Innovation Network Corporation of Japan (INCJ), and the middle- and small-size display businesses of the subsidiaries of Sony Corp, Toshiba Corp and Hitachi Ltd were integrated for the new company (See related article 1, 2, 3). The establishment of the company was announced Aug 31, 2011, and a formal contract was signed in November 2011.
Japan Display has a capital of ¥230 billion (approx US$2.8 billion, including capital reserve). The investment ratios of INCJ, Sony, Toshiba and Hitachi are 70%, 10%, 10% and 10%, respectively.
The number of employees of Japan Display is currently about 6,200. At a press conference that the company organized for announcing its establishment Aug 31, 2011, it said that the number of employees was about 7,600 (as of April 1, 2011). So, it seems that more than 1,000 employees were cut mainly in the indirect and production departments after the agreement on the business integration. When asked if more employees will be cut, Otsuka said, "We are not planning to do that at this point."
This time, Japan Display also announced the structure of the organization. It consists of seven divisions, which are "Research and Development Division," "Mobile Business Division," "Automotive/C&I Business Division," "Sales Division," "Production Division," "Procurement Division" and "Quality Assurance Division," as well as "Internal Audit Room" and "Central Staff."
The number of operating officers are nine excluding Otsuka, and they double as division managers, etc.
"We have formed a slim, low-hierarchy organization that does not have a vice president or executive managing director," Otsuka said.