Sharp could be able to shortly finalise a restructuring plan that could inject $3 billion into the business, according to Reuters, which quoted “sources close” to the deal. The Innovation Network Corporation of Japan (INCJ) would put in $1.7 billion (¥200 billion), while the balance would come from a move by Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank to convert about $1.3 billion of existing loans into preferred shares. Nikkei has also reported that KRR might be interested in an investment and, of course, Foxconn/HonHai has been a potential investor for some time.
The deal would mean a merger between the Sharp LCD business and JDI, which the INCJ formed from the Sony, Hitachi, Toshiba and part of the Panasonic flat panel display businesses in 2011.
