[ET Net News Agency, 8 February 2018] FIT Hon Teng (06088) said it entered into a joint
venture agreement with Sharp Corporation for the formation of a joint venture company.
FIT Hon Teng shall make a total capital contribution of JPY1,541 million (about HK$108
million) to the JV, and Sharp shall make a capital contribution of JPY1,481 million (about
HK$104 million) to the JV. The JV will be owned as to 51% by FIT Hon Teng and as to 49% by
Sharp. The parties agreed that the JV's scope of business shall be, among others, the
development, design, manufacturing, distribution and marketing for automotive cameras and
electronic mirrors.
Sharp agreed to grant to the JV, among other things, the right to develop, assemble and
manufacture certain types or models of automotive cameras and electronic mirrors specified
therein in Singapore; Mainland China, Taiwan, Hong Kong and Macau; Japan; North America;
and Europe for sale or distribution using the know-how from Sharp regarding control plans,
manufacturing standards and research and development; and the right to have Japanese
subsidiary and Chinese subsidiary of the JV use the aforesaid know-how for certain
specified purposes.
Sharp also agreed to grant to the JV, among other things, the right to use the trade
names "SHARP Automotive Technology Co, Ltd." and "SHARP Automotive Wuxi Co, Ltd." in
Japanese subsidiary's and Chinese subsidiary of the JV's corporate name or trade name; the
right to use the trademark "SHARP" in connection with the manufacture, affixing,
packaging, sales, marketing and distribution of certain types or models of automotive
cameras and electronic mirrors in the specified territories; and the right to have
Japanese subsidiary and Chinese subsidiary of the JV use the trademark for certain
specified purposes. (HL)