Sharp Seeking More Partners For Its Struggling LCD Plant

Posted on Apr 10 2012 - 7:21am by Editorial Staff

Japan’s Sharp is seeking more partners to buy stakes in its main Sakai plant in a bid to spin off the LCD production subsidiary, reports Reuters. Citing unnamed source “familiar with the matter”, the company has asked suppliers Toppan Printing and Dai Nippon Printing to invest in its Sakai facility.

Sharp in March agreed to issue shares worth 66.9 billion yen ($821.97 million) to Taiwan’s Hon Hai Precision Industry in return for an 11 percent shareholding. As part of Sharp’s tie up with Hon Hai, the Taiwanese company will take a 46.48 percent stake in Japan’s most advanced LCD plant. Sony, which holds a 7 percent stake Sakai, said in March it has no plans to raise its holding, ending an earlier tentative agreement to invest more.

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