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©Sharp Electronics Production | September 06, 2012

Sharp mortgages factories to stay afloat

Sharp has mortgaged the majority of its domestic offices and factories in Japan, as it tries to secure loans to stay afloat.

Reuters reports that Sharp has mortgaged domestic offices and factories, including the plant that makes screens for Apple's latest iPhone, as it waits for Hon Hai Precision to offer a cash injection to save the fledgling business. The properties are collateral for up to 150 billion yen (1.92 billion USD) of credit from Mizuho Financial Group and Mitsubishi UFJ Financial Group.
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