Japan State-backed Fund To Invest in Sharp And Toshiba: report
Innovation Network Corporation of Japan (INCJ), a Japanese state-backed fund, is reportedly in advanced talks to invest in Sharp and the consumer electronics business of Toshiba.
.
INCJ, which is also the biggest shareholder of Japan Display, considered investing in Sharp's display division and merging it with Japan Display, sources told Reuters.
INCJ is also looking to inject funds into Sharp's overall business and pursuing broader restructuring including cost cuts and deals such as a merger with Toshiba's consumer electronics arm, people with knowledge of the matter told Reuters.
Sharp has been struggling to compete with Apple, Samsung Electronics and other rivals. To stay competitive, the government in 2009 launched INCJ, which was credited with the turnaround of auto-related semiconductor supplier Renesas Electronics.
Last week, Sharp received an investment offer from Taiwan's Hon Hai Precision Industry Co Ltd, also known as Foxconn.
Sharp provided the a comment typical for the Japanese company - nothing has been decided at this point.
INCJ is also looking to inject funds into Sharp's overall business and pursuing broader restructuring including cost cuts and deals such as a merger with Toshiba's consumer electronics arm, people with knowledge of the matter told Reuters.
Sharp has been struggling to compete with Apple, Samsung Electronics and other rivals. To stay competitive, the government in 2009 launched INCJ, which was credited with the turnaround of auto-related semiconductor supplier Renesas Electronics.
Last week, Sharp received an investment offer from Taiwan's Hon Hai Precision Industry Co Ltd, also known as Foxconn.
Sharp provided the a comment typical for the Japanese company - nothing has been decided at this point.
