What They Say
In June, Nikkei reported that Sharp had said that it was buying back the shares in Sakai Display Products (its G10 fab in Japan) to make it a wholly ownd subsidiary. It previously held just 20% and bought the balance for around $296 million from a ‘Samoa-based investment company’. The firm issued shares to use for the deal and that meant that with a larger number of shares, the stake owned by Hon Hai has dropped from 52.6% to 49.5%, casting some doubt as to whether Hon Hai (Foxconn) will still be considered the parent company of Sharp.
What We Think
I missed this at the time, apologies. It’s good to see Sharp gradually getting back to some kind of health after its crises some years ago. At one point, the Finance Director issued a statement clarifying that the company could not be certain of continuing as it was.
In its last quarterly report, Sharp published the data below on its display business. It will try to develop the small/medium panel business at the fab. (BR)
