Foxconn Electronics, its Cayman Islands-registered subsidiary Foxconn (Far East), Singapore-based Foxconn Technology Pte. and SIO International Holdings will together acquire 3.282 billion new common shares to be issued by Sharp to expand paid-in capital at JPY88 per share and a total price of JPY388.812 billion (US$3.42 billion) for a combined stake of 66.00%, according to Foxconn Electronics.
Times of India — TOKYO: Sharp and Taiwan’s Foxconn are set to sign a takeover deal next week after repeated delays, with the two sides set to agree on a smaller bailout than originally planned for the troubled Japanese electronics maker, two sources familiar with the talks said on Saturday. The two companies will hold board meetings on Wednesday to approve the deal and officially sign a deal the following day, said the two sources with direct knowledge of the talks.
Digi Times — Foxconn Electronics (Hon Hai Precision Industry) has issued a company filing with the Taiwan Stock Exchange (TSE) saying its negotiations with Sharp over a takeover deal continue, in response to various media reports indicating the company is seeking to reduce the price it would pay for Sharp by up to 20%.
Digi Times — Foxconn Electronics is undertaking its due diligence at Sharp’s factories for a planned bailout for Sharp and both sides may sign the deal this week, according to Japan-based Nikkan Kogyo. However, other media outlets are reporting that Foxconn is looking for additional support from Sharp’s creditors.
Times of India — KYO/TAIPEI: Sharp and Foxconn agreed on Friday to extend a deadline for takeover talks by 1-2 weeks, a person familiar with the matter said, after the Taiwanese firm had put the deal on hold to clarify “new material information.” Sharp, a loss-making Japanese display maker, announced on Thursday it had decided to sell a two-thirds stake to Foxconn, in a deal worth an estimated $5.8 billion.
IT News — Foxconn has put its takeover of Sharp on hold after discovering previously undisclosed liabilities, sources said, throwing the acquisition in doubt and sending shares of the Japanese electronics maker tumbling. Loss-making Sharp yesterday announced it had agreed to be bought by Foxconn, a contract manufacturing firm formally known as Hon Hai Precision Industry Co and major Apple supplier.
Times of India — TOKYO: A Japanese state fund is making a final effort to secure a takeover of Sharp as the ailing electronics maker considers a higher $5.8 billion offer from Taiwan’s Foxconn, criticising the composition of the company’s board, sources said. Innovation Network Corporation of Japan (INCJ) officials are taking issue with two of Sharp’s board members who they believe have a conflict of interest as they represent a fund that holds preferred shares in the electronics company, according to the sources familiar with the fund’s complaint.
IT News — Taiwan’s Foxconn is aiming to finalise a deal to acquire Japan’s Sharp by the end of the month, after the two firms reached a consesus on most points. Foxconn, known formally as Hon Hai Precision Industry, has been given preferred negotiating rights and most remaining issues to be resolved were legal and regulatory, Foxconn CEO Terry Gou said after meeting with executives of the struggling electronics maker over the weekend.
Times of India — OSAKA, JAPAN/TAIPEI: Taiwan’s Foxconn is aiming to finalize a deal to acquire Japan’s Sharp Corp by the end of the month, after the two firms reached a consensus on most points, Foxconn chief executive officer Terry Gou said. Foxconn, known formally as Hon Hai Precision Industry Co, has been given preferred negotiating rights and most remaining issues to be resolved were legal and regulatory, Gou said after meeting with executives of the struggling electronics maker on Friday.
ZDNet — Foxconn Technology Group, otherwise known as Hon Hai Precision, has reportedly offered to purchase Japanese technology company Sharp for 600 billion yen. According to Bloomberg, Sharp is expected to respond to Foxconn’s offer before the end of January. However, a Sharp spokesperson told Bloomberg that the company does not have any comment to provide.
Digi Times — In an effort to improve its finances, panel maker Sharp is expected to sell technology and patents to China- and India-based panel makers, according to a report from Japan-based Nikkei. Full details have yet to be revealed but the report indicated that Sharp is expected to sell approximately JPY7 billion (US$57 billion) in large-size TV panel production technology to India-based Sterlite Technologies. China-based panel maker BOE is also expected to purchase various production equipment.
Digi Times — TOKYO: Taiwan’s Hon Hai Precision Industry offered to buy Sharp Corp’s struggling liquid panel display business and plans to seek funding from Apple Inc, the Nikkei business daily reported. The report did not specify how much Hon Hai, also known as Foxconn, was willing to pay for the loss-making operations, but said it would seek funding from Apple, a key Sharp customer.
Digi Times — TOKYO: Japanese electronics maker Sharp has entered negotiations with Taiwan’s Hon Hai Precision Industry Co for a tie-up over Sharp’s struggling display business, the Asahi newspaper reported on Saturday. Investors and analysts have urged Sharp to overhaul its liquid crystal display (LCD) and consumer electronics divisions. Chief executive Kozo Takahashi initially resisted but last month said he was open to major restructuring, including some kind of strategic deal for its LCD business.
Digi Times — Apple’s reported 12.9-inch iPad will feature displays from Sharp while Foxconn Group subsidiary General Interface Solution (GIS) will be mainly responsible for touch modules, lamination and LCM assembly, according to industry sources. The device will enter production by the end of the third quarter and go into mass production in the fourth. Sharp will provide Open Cell LCD displays while GIS will provide GF touch panels.
Digi Times — There is increasing demand for inexpensive SIM-free smartphones in the Japan market and consequently ZenFone series models launched by Taiwan-based vendor Asustek Computer have been in booming sale and Japan-based smartphone vendors including Sony Mobile Communications, Sharp, Fujitsu and Kyocera have sought cooperation with Taiwan-based ODMs to develop and produce inexpensive SIM-free Android smartphones specifically for sale in the Japan market, according to Taiwan-based smartphone ODMs.
Want China Times — Japanese electronics manufacturer Sharp said it will not refuse financial help from Taiwanese contract electronics manufacturer Hon Hai even though the two companies failed to reach partnership agreement three years ago, reports our Chinese-language sister paper Commercial Times. In March 2012, Sharp was said to have rejected Hon Hai in its bid to acquire a 9.9% stake in Sharp for 66.9 billion yen (US$559 million) which would’ve allowed Hon Hai to have a say in the Sharp’s management.
Sharp will launch smartphones in the Indonesia market in 2015, starting with the Aquos Crystal, a model launched in North America in October 2014 through cooperation with Sprint, according to Japan-based Nikkei News. Since Sharp’s home appliance products have helped the company gain strong brand reputation in the country, the Japan-based vendor is hoping the reputation will boost local demand for its smartphones.
Japanese electronics giant Sharp will announce later a $1.68 billion fiscal year loss and thousands of job cuts as it fights to stay afloat, reports said. The Osaka-based company’s 200 billion yen loss is more than six times its earlier prediction of a 30 billion yen shortfall, the leading Nikkei business daily said, adding that as many as 6,000 jobs, or about 10% of its global workforce, would be axed. http://timesofindia.indiatimes.com/tech/tech-news/Sharp-to-post-1-6-billion-loss-may-cut-thousands-of-jobs-Report/articleshow/47279369.cms
Taiwan-based Hon Hai Precision Industry wants to participate in the management of Sharp if it is to invest in the struggling Japanese electronics maker, Hon Hai chairman Terry Gou said in a report in Toyo Keizai. In an interview published in the Japanese weekly Friday, Gou said Hon Hai is ready to support Sharp financially, but the support is contingent on being able to join in the Japanese company’s management. Gou said he has not met with Sharp president Kozo Takahashi in a year, but if the Sharp executive wanted to see him, he would be able to fly to Japan at any time.
TAIPEI/TOKYO: Taiwan’s Hon Hai Precision Industry is considering joining efforts to help rescue Japanese electronics maker Sharp, the company said in a statement late on Friday. Hon Hai’s willingness to ‘participate’ in Sharp has never been limited to investing, but could include technology licensing transfer and other forms of cooperation, according to the statement from Hon Hai, which is also known as Foxconn.
TOKYO: Japan’s Sharp Corp said on Friday that it would seek 300 job cuts in Europe and pursue cooperative ties in household electronics with two companies in the region in a renewed round of restructuring of its European operations. The electronics maker said it would grant use of its TV brand in Europe to Universal Media Corp (UMC) Slovakia while a sales unit of Turkish electronics firm Vestel Elektronik Sanayi ve Ticaret AS would receive use of its home appliances brand.