Hirose Electric has resolved a policy to liquidate its wholly-owned subsidiary Hirose Engineering in June 2007.

Hirose Engineering was established in March 1995 with the aim of researching and developing organic EL materials, but has been logging losses that were several times larger than its sales . The company concluded that it would be difficult for the business to generate profits in the near future and decided to withdraw from the organic EL material business. "We initially expected the market to be established in around 2007, but it seems to take much longer before that," said a spokesperson from the company's PR department.

Read more here (TechOn)

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