Canon and Toshiba today announced an agreement by which Canon will purchase from Toshiba all of Toshiba's outstanding shares of SED Inc., which was jointly established by both companies. On completion of the purchase, SED Inc. will become a wholly owned subsidiary of Canon, effective January 29, 2007.

The decision was reached following discussions between Canon and Toshiba based on the assumption of prolonged litigation pending against Canon in the United States with respect to SED technology. As a result of the discussions, it was decided that Canon will carry out the SED panel business independently in order to facilitate the earliest possible launch of a commercial SED television business.

SED television sets are to be introduced in Japan in the fourth quarter of this year as originally scheduled, although Canon will reassess its future mass-production plans for SED panels.

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