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Sharp considers chairman’s retirement, to scrap posts: Kyodo

Japan's Sharp Corp. considering its President Mikio Katayama, retirement and disposal as advisory in the context of efforts to accelerate under its...

 

Sharp considers chairman's retirement, to scrap posts: Kyodo
Japan’s Sharp Corp.

considering its President Mikio Katayama, retirement and disposal as advisory in the context of efforts to accelerate under its president, Takashi Okuda, Kyodo news agency reported Sunday. Restore the company

Sharp leading manufacturer of LCD screens in Japan, is expected in the medium term business management reveal May 14 He wants to build concentrated authority with Okuda, a new management structure for a company again told the news agency.

main creditor banks of society, Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ, sought retirement Katayama because his presence has caused in the process of decision-making and retirement was seen as inevitable, Kyodo said uncertainty.

company spokesman were not available for comment.

The Yomiuri Katayama has all the creditors informed of his intention to resign.

Kyodo also said a business consultant, Katsuhiko Machida, and a special adviser, Haruo Tsuji, it was expected that these positions are retiring and the company would probably be abolished.

This month, two sources with knowledge gains Sharp told Reuters that he posted a worse than expected 500 million yen ($ 5.1 billion) net loss for the year ended March 31 panel as active plant-offs shrunk bottom line.

The company will announce on May 14

its financial results

Deadline for Hon Hai to invest in Sharp lapses with no deal

 

Deadline for Hon Hai to invest in Sharp lapses with no deal

deadline Hon Hai Precision Industry Co., Sharp Corp. has an interest in buying expired without an agreement Tuesday terminates an agreement forged last year that the Taiwanese firm shareholder number 1 in the machine Japanese television.

Hon Hai talk to as much as a 9.9 percent stake in neutral buy after Sharp balked at the request of a certain degree of management control. Hon Hai has also sought to the $ 708 million price tag to decrease after the shares of Sharp fell in the wake of losses led to a bailout of the banks last year.

These banks Mizuho Financial Group Inc. and Mitsubishi UFJ Financial Group Inc., do not expect a revised agreement with Hon Hai, sources told Reuters last month.

talks with Hon Hai unraveled, Sharp has signed investment agreements with smaller Samsung Electronics Co. Ltd. and Qualcomm Inc. It can also find other ways to raise money for an obligation to repay convertible 2100000000 due in September.

Resources

Sharp and its banks, and analysts have told Reuters that they expect the Japanese pioneer LCD resort to equity financing to fund to close after he adds available cash and the proceeds from the sale of assets and the game.

asset sales

possible before September the sale of its assembly plant in China TV Lenovo Group Ltd. and the sale of the plant in Mexico to Hon Hai.

Sharp remains committed to Hon Hai by their co-ownership of the world’s most advanced LCD plant in Sakai, western Japan. The two companies will also cooperate in smartphones in the Chinese market.

Sharp fell 1.7 percent to about 290 yen in Tokyo Tuesday before the announcement of the deadline for Sharp agreement with Hon Hai had expired.