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© beisea dreamstime.com Electronics Production | November 06, 2012

Sharp to seek bailout?

After warning earlier this moths that it may post JPY 450 billion in losses for fiscal 2012 (ending in March 2013), Sharp may have only one option left.

Sharp may turn its eyes to Enterprise Turnaround Initiative Corp. (ETIC) or Innovation Network Corp. of Japan (INCJ), writes Bloomberg - citing Fumiaki Sato, co-founder of Sangyo Sosei Advisory Inc., a turnaround advisory firm in Tokyo. Although Sharp signed an agreement to sell a 9.9 percent stake to EMS-giant Foxconn, both companies continue to renegotiate the deal. In his lates fiscal, Sharp noted that it expects negotiations to be completed by March 2013.
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November 12 2019 7:31 am V14.7.10-1