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Reply to "Sharp has Serious Money Problems!"

quote:
Originally posted by copierlady:
Read the Reuters post from Aug 17 - Sharp is "revamping".

"The Nikkei had earlier reported that Sharp was considering selling its copier, air-conditioner and LED businesses, with Kyocera Corp (6971.T), Daiwa House Industry Co (1925.T) and Daikin Industries Ltd (6367.T) among possible buyers or investors.

Sharp denied both reports, while a Hon Hai spokesman declined to comment.

Separately, the Jiji News Agency reported that Osaka-based Sharp was seeking a 50 billion yen ($630 million) capital increase, and is approaching U.S. investment funds, Kyocera, Toshiba Corp (6502.T), and others.

"It is true we are considering various matters for the recovery of our performance, and we will swiftly announce them if we make any decisions that need to be disclosed," Sharp said in one of its statements on Friday."


Update 4 from Reuters (buried in the middle of the article)

"Sharp's two main lenders, units of Mizuho Financial Group and Mitsubishi UFJ Financial Group, are poring over the company's restructuring plan to determine how much it needs to survive as it also renegotiates terms of an investment by Taiwan's Hon Hai Precision Industry.

The Nikkei business daily said on Friday that Hon Hai was looking to double its stake in Sharp to about 20 percent from a 9.9 percent agreed in March, and wants to pay about 200 yen per share, compared with the 550 yen initially agreed.

The Nikkei had earlier reported that Sharp was considering selling its copier, air-conditioner and LED businesses, with Kyocera Corp, Daiwa House Industry Co and Daikin Industries Ltd among possible buyers or investors.

Sharp denied both reports, while a Hon Hai spokesman declined to comment."

Thats one way to get it from 550 yen per share to 200.
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