Mitsubishi Heavy Industries, Ltd., ROHM Co., Ltd., Toppan Printing Co., Ltd. and Mitsui Co., Ltd. have established a joint-venture company, Lumiotec Inc., to assess the business viability of organic light-emitting diode (OLED) panels for lighting applications. The company's plant located at its head office in Yonezawa City in Yamagata Prefecture, Japan is slated for completion within the year. The company plans to commence operation of the plant in spring 2009, and begin offering sample panels in summer 2009. Lumiotec is capitalized at ￥1.4 billion with ￥700 million each company in common stock as well as capital reserves. Mitsubishi Heavy Industries has invested 51 percent, ROHM 34 percent, Toppan Printing 9.9 percent, Mitsui Co., 5 percent and Professor Kido 0.1 percent.
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