Japanese electronics maker Sharp may spin off its LCD panel business and seek funding for it from Innovation Network Corporation of Japan (INCJ), Reuters reported on Sunday. The Nikkei business daily earlier reported that the LCD unit will be spun off in the current fiscal year and that INCJ could invest 100 billion yen in the new entity.

Reuters reported that Sharp wants to keep a majority in the LCD unit, and that details of an INCJ stake have not been decided.

A Sharp spokesman, while confirming the company was considering various reforms for its LCD business, said no decision had been made.

Sharp is expected to come up with restructuring measures by May.