SHARP aims to aim for reconstruction under Taiwanese Foxconn

The slumping management SHARP, Taiwanese EMS leading Foxconn (Hon Hai ScienceIt was reported that we will aim for rebuilding under the umbrella of the company. However, Sharp says "It is not based on our announcement" against this report.

Sharp to rebuild Taiwanese capital umbrella - NHK Metropolitan area NEWS WEB
http://www3.nhk.or.jp/shutoken-news/20160204/5618901.html

Concerning the support of SHARP during the reconstruction of management, a battle has spread between the public and private fund industry innovation organization and Foxconn, and in order to prevent the leakage of fundamental technology related to liquid crystals from overseas, liquid crystal manufacturing companies in Japan The proposal that the Industrial Innovation Organization will invest about 300 billion yen including the merger with Mitsubishi Materials Co., Ltd. was proposed and it was believed to be leading in the competition to acquire priority bargaining rights.

However, Foxconn raised the amount of support several times, eventually raising the amount significantly and proposing to provide more than 700 billion yen in funding. We restrained competition with the Industrial Innovation Organization at the last minute. SHARP decided to give Foxconn a priority bargaining right at the Board of Directors of February 4, 2016. In the future, we aim to rebuild business under Foxconn.


◆ 2016/2/4 15:20 Addendum
In response to the report by NHK "SHARP gives Foxconn the right to prioritize negotiations and aim for rebuilding", SHARP stated that "we will talk over the next month to conclude a definitive agreement" Officially announced.

About a part of news about our business restructuring - 160204.pdf
(PDF file)http://www.sharp.co.jp/corporate/ir/pdf/2016/160204.pdf