Business Sharp plans further share sales

Business Sharp plans further share sales

2013/09/12

Following sales of 3% of the company to Samsung for $100 million and 3.5% of the company to Qualcomm for $120million, Sharp is reported by Japan’s Yomiuri newspaper to be about to sell three more $100 million stakes to Makita, Denso and Lixil Group.

In addition, the company may make a public offering of shares to raise a further $1.7 billion, says the Yomiuri.

Shatp has lost $9 billion in the last two years and has debts of $12.7 billion. In the three months to June it lost $180 million.

However, in the financial year to March 2014, it is forecasting a profit of $50 million.

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