Sony, Toshiba and Hitachi confirm plans for government-backed LCD joint venture

We had a pretty clear indication that some official word was coming soon, and Sony, Toshiba and Hitachi have now confirmed that they intend to pool their LCD manufacturing efforts and form a new joint venture (expected to be completed by the spring of 2012). That effort is getting a $2.6 billion shot in the arm courtesy of a Japanese government-backed investment fund, which itself will own 70 percent of the new company -- to be dubbed Japan Display -- while Sony, Toshiba and Hitachi will each get a 10 percent share.