The goal of the new joint venture is to make more effective use of the management resources of the two companies in the optical disk business field, and to capture a leadership position in this area, particularly in the Blu-ray Disc market where significant growth is expected in the future, according to the latest press release.

The optical disk businesses of the two companies will be transferred to the new joint venture, with a target date for the start of operations around October 1, 2009. The new company will engage in the development, design, manufacture, and sales of optical disk products, focusing on optical disk drives, recorders, and players.

Concerning details of the joint venture, the two companies will elaborate the necessary matters, and are committed to negotiating in good faith with the goal of officially signing the joint venture agreement by June 25, 2009.

This is not the first time both companies joined forces. Two years ago Sharp made some big investments in Pioneer, so Sharp became the top shareholder of Pioneer.