Two of the largest Japanese electronics companies, Toshiba (6502.T) and Sharp (6753.T), are considering working together in the solar sector, the companies announced Friday.
Toshiba in January announced the creation of a solar division. The company does not make solar modules, but intends to focus on installations, aiming for sales of 200 billion yen by 2016.
Toshiba spokeswoman Hiroko Mochida said Sharp is one of the companies from which Toshiba may seek to procure panels
Sharp, which plans to introduce its thin film solar cells in the U.S. in August 2009, said it is in talks with several companies for possible collaboration in the solar sector. A Sharp spokeswoman confirmed that Toshiba is one of those companies.
The mass-circulation Asahi Shumbun reported Friday that Sharp would provide panels to Toshiba, which would in turn supply distribution systems to Sharp.
Following the report, shares of Sharp gained 4.7% and those of Toshiba rose 2.5%, outperforming the broader market of Friday, according to Reuters.
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