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April 10, 2017

E Ink and Sony Semiconductor Solutions Agree to Establish a Joint Venture to Operate Electronic Paper Display Business

E Ink® Holdings
Sony Corporation
Sony Semiconductor Solutions Corporation
E Ink® Holdings("E Ink") and Sony Semiconductor Solutions Corporation, a wholly-owned subsidiary of Sony Corporation, announced that the two companies have agreed to establish a joint venture ("JV") responsible for planning, designing, developing, manufacturing, selling, distributing and licensing products that utilize electronic paper displays, as well as related applications and the integration platform for system partners.

E Ink and Sony have cultivated a strong partnership through a wide array of collaboration products since 2004, with Sony selling Digital Paper adopting E Ink's electronic paper display technology. The new JV will leverage both E Ink's development and manufacturing technology for electronic paper displays and Sony's expertise in product development and marketing. By doing so, it will aim to create new electronic paper display products and systems and grow the market of e-paper based solutions.

The JV is officially registered in Taiwan and has its Japan subsidiary registered in April. The company operation will be started soon after obtaining required regulatory approvals. E Ink's subsidiaries and Sony Semiconductor Solutions jointly invest approximately 70% of JV shares and are the major shareholders leading the JV's business to success. The remaining shares are subscribed by venture capital companies investing in rising startups. The paid in capital is NTD 420 million (New Taiwan Dollars).

The Board of directors of the JV includes directors assigned by E Ink and Sony. Terushi Shimizu, the Representative Director and the President of Sony Semiconductor Solutions, serve as the board member for the JV. Johnson Lee, the President of E Ink Holdings, is appointed to be the Chairman.

"E Ink is very excited to deepen this partnership with Sony through the JV and honored to have such an experienced board member to provide guidance to the JV", said Johnson Lee, the President of E Ink Holdings. "With the strong support and collaboration between E Ink and Sony, we believe the mutual efforts will lead the JV to a significant business growth."

"Sony has worked on ePaper technology with E Ink for over a decade. Through this long-term partnership, we share the same vision with E Ink together to proliferate the use of ePaper," said Terushi Shimizu.

In addition to providing products and applications, the JV will also collaborate with partner companies to develop services and solutions for multiple business segments. The JV will work to redefine the traditional work processes of documents and thereby create the new ePaper market. The JV envisions a future where electronic paper displays would become an essential tool to play a valuable role in the social infrastructure.

About E Ink® Holdings

Founded in 1992 by Taiwan's leading papermaking and printing group YFY (1907.TWSE), E Ink Holdings Inc. (8069.TWO), based on technology from MIT's Media Lab, has transformed and defined the eReader market with its ePaper technology, enabling a new multi-billion dollar market in less than 10 years. Its corporate philosophy aims to deliver revolutionary products, user experiences, and environmental benefits through advanced technology development. This vision has led to its continuous investments in the field of ePaper displays as well as expanding the use of its technologies into a number of other markets and applications. Its EPD products make it the worldwide leader for ePaper. Its FFS technologies are a standard for high end consumer electronic products. Listed in Taiwan's Taipei Exchange (TPEx) and the Luxembourg market, E Ink Holdings is now the world's largest supplier of displays to the eReader market. For corporate information, please visit www.einkgroup.com; for EPD information, please visit www.eink.com.

About Sony Semiconductor Solutions Corporation

Date of Incorporation November 9, 2015 (operations commenced on April 1, 2016)
Location of Head Office 4-14-1 Asahi-cho, Atsugi-shi, Kanagawa
Stated Capital 400 million yen (100% contributed by Sony Corporation)
Representative Terushi Shimizu
Employee Headcount Approximately 3,400 (as of April 2017)
Type of Business Research, development, manufacture and sale of semiconductor related products and electronic equipment, as well as other related and ancillary businesses
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