Sharp Plans To Obtain More Loan Of $1.5 Billion To Save Its Business

Posted on May 14 2013 - 4:24am by Editorial Staff

Sharp Corporation

The struggling TV and display maker Sharp in a business plan and financial statement which it set to release on Tuesday will reportedly reveal plans on how it will obtain more loans on it already borrowed amount of 360 billion yen ($3.5 billion) it has taken last year. The company already being under huge pressure and is doing everything possible in an attempt to a financial turnaround, including from cutting workforce to selling its Pioneer stake.

Now, as the plan it due to release its aiming to take another loan of 150 billion yen ($1.5 billion) in return of offering lenders the senior management positions along with other conditions in the company. If this is not it, then in recent time, Sharp even planned to raise $1.1 billion via new public stock offerings as well Samsung bought up stake in company and so on. The scenario for Sharp still not taking its anywhere and giving any fixed beneficial results but believe to be its trying its hand in almost everything possible.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.