Foxconn is likely to reduce its buyout offer for Sharp by around 100 billion yen ($898 million), from an initial plan of 489 billion yen, Japan's Jiji News reported on Monday. Last month, Sharp said it would issue around $4.4 billion worth of new shares to give Foxconn a two-thirds stake, but the Taiwanese electronics company put its takeover bid on hold at the last minute due to what sources said was the discovery of previously undisclosed liabilities.

Foxconn will lower the purchase price of new share offers from Sharp from a planned 118 yen per share, while retaining the plan to own two-thirds stake in Sharp, Jiji added.

Sharp aims to decide on the new rescue deal by the end of month, the news wire said.