Foxconn to Invest Billions of Yen in Sharp’s Business Solutions Group

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On the heels of Foxconn Technology Group’s purchase of a majority interest in Sharp Corporation of Japan, Sharp Corporation has issued a statement regarding its Business Solutions business, which markets copier/MFPs, printers, display products and other business solutions, stating that it’s seeking a “global expansion” of the business, and that Foxconn will invest some 20 billion yen (approximately $178 million U.S.) on expanding its MFP sales distribution, in order to expand and stabilize Sharp’s revenue base in North America and Europe.

About 8 billion yen (approximately $71 million U.S.) will be devoted to investments in software, and dies and molds to develop new products for the solution business, which focuses on robotics and digital-signage displays. Some 12 billion yen (approximately $107 million U.S.) will be spent on investments in renewing facilities for the automation of and reduction in labor force at production lines, to improve productivity in existing plants in both Japan and China.

According to a statement issued by Sharp Imaging and Information, Sharp will remain operationally independent, its shares will continue to be traded on the Tokyo Exchange, and Foxconn will invest more than $350 million in Sharp’s Business Solutions group.

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