The two companies say that they will "continue to develop high-quality, high-brightness LEDs and pursue expansion of the LED market through fair competition."
Toyoda Gosei and Sharp each possess wide-ranging patents in the area of optoelectronics. As a result of this cross-license agreement, the two companies say they "will be able to step up their R&D efforts and meet the rapidly-growing demand, thereby contributing to the development of the LED industry."
Sharp entered into a cross-licensing agreement with Nichia in November 2008 - see News.
Toyoda Gosei has entered into a number of cross-licensing deals, including agreements with Nichia, Tridonic, Cree, Osram and Lumileds.