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The joint venture agreement reportedly combines Toyoda Gosei’s LED technology with Epistar’s low-cost manufacturing capabilities to expand the partners’ LED sales in the growing market of illumination applications.

Since 2006, Toyoda Gosei has worked with Epistar and outsourced the production of some of its LED products to Epistar. Through this joint venture the companies said they will tap into each other’s strengths to supply energy-saving, low-cost LED products.

The joint venture is tenitively named Te Opto Corporation. It will be established as of November 1, 2010. It will be located in Taipei, Taiwan. 51 percent will be owned by Toyoda Gosei, 40 percent by Epistar, and 9 percent by Twin Hill. The board will be composed of seven directors, four from Toyoda Gosei, two from epistar, and one from Twin Hill. The new company is targeting 5 Billion JPN (about US$11.9 million) in sales by the fiscal year ending March 31, 2012.

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