Sharp President to Ask for More Funds from Lenders

Sharp Headquarters in Osaka Japan

Sharp Headquarters in Osaka Japan

March 4, 2015 – The Wall Street Journal reports that Sharp President Kozo Takahashi will meet with Sharp’s two main lenders on March 5th to ask for additional financial support, less than three years after its last bailout, according to the Wall Street Journal’s sources.

Takahashi will present a turnaround plan to its lenders, Mitsubishi UFJ Financial Group and Mizuho Financial Group. These two lenders together hold more than ¥400 billion ($3.3 billion U.S.) in Sharp debt. The plan may involve Sharp leaving businesses such as solar panels and seeking funds from other investors.

Sharp’s financial troubles have largely been from its LCD-displays business  – LCD displays that are typically used in TVs, smartphones, and tablets – while it’s printer/MFP/copier business has generally remained profitable over the last several years.

Read the entire Wall Street Journal story here.

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