TOKYO (Reuters) - Panasonic Corp.’s flat panel subsidiary, IPS Alpha Technology Ltd, said on Wednesday it plans to start LCD module production in Malaysia in February, taking aim at growing LCD TV demand in emerging markets.

IPS Alpha will spend about 900 million yen ($9.2 million) to set up a production line, targeting an initial monthly output capacity of 50,000 units.
The company plans to bring production to 250,000 units a month eventually, but the specific timing of the expansion or size of the additional investment has not been decided.
In the module production process, which comes between panel manufacturing and assembly of LCD TVs, electronics components such as backlights and LCD driver chips are added to LCD panels.
The new LCD module production line, which will be set up at an existing Panasonic plant in Selangor, Malaysia, will be IPS Alpha's second overseas LCD module production facility after its Czech Republic plant.
IPS Alpha is owned 45 percent by Panasonic and 50 percent by Hitachi Displays, which in turn is owned about 50 percent by Hitachi Ltd.and 25 percent each by Panasonic and Canon Inc.
Shares in Panasonic, formerly known as Matsushita Electric, closed up 0.4 percent at 1,493 yen, outperforming the Tokyo stock market's electrical machinery index , which fell 1.9 percent.