Sharp at its board of directors meeting held on July 31, 2015 passed resolutions to form a business alliance with Hisense International (Hong Kong) America Investment, a subsidiary of Hisense, a China consumer electronics company for the LCD TV business. Under the resoultions, it is stated Sharp will license its brands to the LCD TVs offered by Hisense HK in the Americas and to transfer all shares in Sharp Electronica Mexico S.A., a consolidated manufacturing subsidiary of Sharp in Mexico, to Hisense's subsidiaries, Hisense Electric and Hisense USA. Sharp also entered into a legally binding agreement with Hisense HK, Hisense Electric and Hisense USA on July 31, 2015.
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