Sharp Set to Continue M&A Strategy

Sharp Electronics’ headquarters in Montvale, NJ.

According to the Nikkei Asian Review, Sharp Corporation of Osaka, Japan, has doubled its merger-and-acquisition budget in order to expand its copier/MFP sales network in North America and Europe.

Sharp is setting aside about $108 million (12 billion yen) for mergers and acquisitions this fiscal year, targeting vendors, especially those strong in corporate sales, in North America and Europe. It spent about $50 million (6 billion yen) in its last fiscal year for acquisitions.

One of its most recent acquisitions was American Business Machines in Houston, Texas, which the Nikkei Asian Review says Sharp purchased for about 2 billion yen. ABM will sell Sharp copier MFPs, as well as Sharp electronic whiteboards and video-conferencing systems. It may also sell PCs, via Sharp’s purchase of Toshiba’s PC business, an acquisition that Sharp is expected to complete in October.

Sharp turned its first profit in four years in fiscal 2017 under the umbrella of Taiwan’s Hon Hai Precision Industry, also known as Foxconn. According to the Nikkei Asian Review, “Sharp will now speed up investment for growth. It hopes to generate more than 450 billion yen in sales from its smart business solutions segment in fiscal 2019 — up 36 percent from fiscal 2017.”

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