Sharp Denies JDI Merger Rumour

By Helen Vince
subscribe

Sharp has denied reports that it is considering merging its display business with Japan Display Inc. (JDI), saying that it believes its technology has an advantage over its competitors.

Reuters quoted Norikazu Hohshi, the head of Sharp’s device business, as saying, “Looking at our overall display business, including our medium and large-sized screen operations, we believe we should be on our own”. The company is aiming to expand sales of LCD panels for business products in order to establish a more stable portfolio, reducing its dependence on volatile consumer products.

Sharp said last week that it is considering various possibilities for its future, based on a drastic reform of its business (Sharp Considering Options for its Future). The company is reported to have asked its main banks, Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ, for more financial aid, having initially been rescued in 2012 with loans and credit lines worth around $3 billion.

The company will unveil its new business plan in May but there have already been rumours that Sharp is considering ending all overseas production of LCD TVs, with the exception of its business in China.