On August 13, according to Agence France-Presse, Sharp plans to sell overseas LCD TV factories to Hon Hai in Taiwan to make up for Hon Hai’s investment losses. It is understood that TV assembly plants in Mexico, Poland, China and Malaysia may be the object of sale.
Sharp and Hon Hai have reached a capital and business cooperation agreement. Hon Hai originally planned to acquire Sharp shares at a price of 550 yen per share (about RMB 45). However, due to the sharp fall in Sharp's share price, the two parties are negotiating to lower the purchase price. Sharp aims to make up for the reduction in Hon Hai's capital contribution by selling the proceeds from the factory and to cut fixed costs.
Sharp is conducting an asset assessment of each plant and plans to reach a conclusion in September. As of the end of June this year, Sharp’s total interest-bearing liabilities amounted to 1.25 trillion yen, and its financial situation deteriorated sharply. Until June 30, Sharp's net loss for the quarter was 138.4 billion yen (about 1.77 billion US dollars), much higher than the 49.3 billion yen in the same period last year, and far higher than the average analyst estimate of 76 billion yen.
Sharp and Hon Hai have reached a capital and business cooperation agreement. Hon Hai originally planned to acquire Sharp shares at a price of 550 yen per share (about RMB 45). However, due to the sharp fall in Sharp's share price, the two parties are negotiating to lower the purchase price. Sharp aims to make up for the reduction in Hon Hai's capital contribution by selling the proceeds from the factory and to cut fixed costs.
Sharp is conducting an asset assessment of each plant and plans to reach a conclusion in September. As of the end of June this year, Sharp’s total interest-bearing liabilities amounted to 1.25 trillion yen, and its financial situation deteriorated sharply. Until June 30, Sharp's net loss for the quarter was 138.4 billion yen (about 1.77 billion US dollars), much higher than the 49.3 billion yen in the same period last year, and far higher than the average analyst estimate of 76 billion yen.
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