Tagged With "Hon Hai"
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Re: Japan's Sharp Corp plans to sell its copiers and air conditioners businesses
Somewhere near last.... However, I just picked up this press release from Rueters also: Sharp seeking over $1.2 bln for plant and other assets -Yomiuri * Sharp also in talks to sell some Tokyo offices -Yomiuri * Sharp will struggle to find buyer for solar business-source By Reiji Murai and Tim Kelly TOKYO, Aug 16 (Reuters) - Cash-strapped Sharp Corp is in talks to sell its key solar panel plant in Japan as part of an asset sale seeking more than $1.2 billion, local media said on Thursday,...
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Re: Sharp "What will Happen"
PLease up until 7 months ago, Sharp had stated the there was no interest in selling the MFP division. MY how things have changed after the delayed qualcom money, the loss of the Hon Hai deal. Sharp as stated here and in news stories is NOT in complete control of their future. Two major Japanese banks also call the shots with sharp execs. If the right deal is offered that would allow Sharp to become the premiere lcd display manufacturer in the world, then I think sharp will sell the MFP division.
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Re: Sharp hits new year low
the only way that is going to happen is to sell the copier division
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Re: Sharp seeks to nearly double number of recruits following takeover deal
At first I thought they were expanding in the business solutions group . It looks like the money is being spent on displays. I still think the business solutions group will be sold off.
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Re: Sharp seeks to nearly double number of recruits following takeover deal
Bill Yup, seems like FARP wants to invest more into IOT, Robotics and Signage than MFP's. That's how I comprehended I recent Sharp document that was posted about a month ago.
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Re: Sharp reportedly to lay off 1,000 employees after Hon Hai deal
This represents a 5% reduction in the workforce.
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Sharp contractors axe 3,000 staff as iPhone sensor output shifts: union
TOKYO (Reuters) - Nearly 3,000 foreign workers subcontracted to Sharp Corp have been laid off in central Japan, a labour union said, as the firm moves production of some sensors for Apple iPhones to a Chinese plant owned by its parent Foxconn. The labour union said some of the laid off workers were its members. The union is in Mie Prefecture in central Japan, where Sharp's plant is located. The news of the relocation, first reported by the Nikkei business daily, and the layoffs sent Sharp...
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Sharp lifts annual profit outlook, to retire some preferred shares
TOKYO (Reuters) - Sharp Corp nudged its full-year profit outlook higher on Tuesday amid a turnaround under the ownership of Taiwanese contract manufacturer Foxconn, and said it plans to retire some preferred shares. The Osaka-based electronics maker, a supplier to Apple Inc, said it expects an operating profit of 112 billion yen ($993.88 million) in the year through next March compared with a previous 110 billion yen forecast. The company has slashed costs after being taken over by Foxconn,...
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Sharp doubles M&A budget to sell more printers abroad
OSAKA -- Sharp plans to expand its overseas sales network for printers by doubling funds to acquire vendors. Lagging behind Canon and Fuji Xerox in a saturated market for multifunction printers, the electronics maker has adopted a strategy of purchasing others' sales channels rather than develop them on its own. Sharp will set aside about 12 billion yen ($108 million) for mergers and acquisitions this fiscal year, targeting vendors, especially those strong in corporate sales, in such markets...
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Sharp Q1 operating profit soars 45 pct on growth in electronic devices
TOKYO, July 31 (Reuters) - Sharp Corp reported on Tuesday a 45 percent rise in first-quarter operating profit as revenue at its electronic devices segment soared, cementing its recovery under the ownership of Taiwan’s Hon Hai Precision Industry Co Ltd (Foxconn). The company said its operating profit was 24.8 billion yen ($223 million) for the April-June period, compared with 17.11 billion yen a year earlier. Seven analysts on average expected operating profit of 18.8 billion yen, according...
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MFP Industry News August 5th 2018
Xerox and Fujifilm battle update - Nikkei Asian newspaper interviewed Shigetaka Komori, CEO of Fujifilm; "Fujifilm can grow without the acquisition (of Xerox), which does not mean we will lose our future." o is continuing its attempts to acquire Xerox, but has denied it will make any compromise, even if it fails in the bid. o "We would not go as far as to raise our terms of acquisition, set in January, to realize the deal." o "It will be better if we can buy Xerox", but the acquisition "is...
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Sharp reports last quarter’s earnings
- Sharp is division of Hon Hai Precision of Taiwan, also known as Foxconn - total sales down 1.2% to 634.9 billion yen - Operating profit was up 38.5% to 29.4 billion yen - (did not break out earnings for printer/MFP division)
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Sharp gobbles NEC as Japan's display giants team up to take on Europe and North America
Not copier news but still interesting as Terry Gou continues to acquire Japanese display giant Sharp will gobble NEC's display business in a push to expand into North America and Europe. Under the terms of the deal, Sharp will acquire two-thirds of NEC Display Solutions (NDS) and form a joint venture to take the two companies' products to market. NDS makes LCD displays, professional projectors, and digital cinema products and solutions. The company has a sales of 63.2 billion yen ($571m) but...
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Sharp bolsters defense with promotion of cost-cutter Nomura
OSAKA -- Sharp will promote Chairman and CEO Tai Jeng-Wu's top deputy as president, creating a two-man leadership team as the company faces the challenge of restoring finances battered by the coronavirus pandemic. Executive Vice President Katsuaki Nomura will become president and COO effective June 25, the company said Tuesday. Tai will vacate his post as president but remain chairman and CEO. "We'll form a strong tag team to once again restore" the company, Nomura said during Tuesday's...
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Re: Sharp has Serious Money Problems!
Read the Reuters post from Aug 17 - Sharp is "revamping". "The Nikkei had earlier reported that Sharp was considering selling its copier, air-conditioner and LED businesses, with Kyocera Corp (6971.T), Daiwa House Industry Co (1925.T) and Daikin Industries Ltd (6367.T) among possible buyers or investors. Sharp denied both reports, while a Hon Hai spokesman declined to comment. Separately, the Jiji News Agency reported that Osaka-based Sharp was seeking a 50 billion yen ($630 million) capital...
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Re: Sharp has Serious Money Problems!
Read carefully. You are all in the copier business, this is a business of careful word craft. "The Nikkei had earlier reported that Sharp was considering selling its copier, air-conditioner and LED businesses, with Kyocera Corp, Daiwa House Industry Co and Daikin Industries Ltd among possible buyers or investors. Sharp denied both reports , while a Hon Hai spokesman declined to comment. (My insert: Which owns 10% and wants 20%) Separately, the Jiji News Agency reported that Osaka-based Sharp...
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Re: Sharp has Serious Money Problems!
Update 4 from Reuters (buried in the middle of the article) " Sharp's two main lenders , units of Mizuho Financial Group and Mitsubishi UFJ Financial Group, are poring over the company's restructuring plan to determine how much it needs to survive as it also renegotiates terms of an investment by Taiwan's Hon Hai Precision Industry. The Nikkei business daily said on Friday that Hon Hai was looking to double its stake in Sharp to about 20 percent from a 9.9 percent agreed in March, and wants...
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Re: Sharp has Serious Money Problems!
Yoda Nice work, I just read the story about Hon Hai wanting to decrease to 200 yen. Reports are now conflicting and yes you have to try and read between the lines. I'll go out on a limb and beleive it's a done deal with Kyocera, I could be wrong (been wrong before), but there is just too much to this, maybe since the deal was not complete with Hon Hai, then why speak to Kyocera and Toshiba especially when they are competitors.
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Re: Sharp has Serious Money Problems!
"Following the recent stock drop, Hon Hai has reopened talks to win a better deal that analysts estimate may yield Sharp only about a third of the 67 billion yen it was relying on to help bolster its finances. That means Sharp may have to resort to selling other assets to make up the shortfall and convince lenders including Mizuho Financial Group and Mitsubishi UFJ Financial Group to help keep it solvent"
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Re: Sharp has Serious Money Problems!
In all honesty I dont think Sharp wants to sell or even think about selling its copier unit. I think the bean counters may be telling them they must to raise enough money to just stay alive or Han Hai is telling them to dump it, or Han Hai leaked a story to get the share price down or the bankers that loaned them money are telling them to sell it to get their money back. Who knows. One thing for certain. Someone, somewhere connected to or working with or for Sharp mentioned it to a reporter!
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Re: Sharp has Serious Money Problems!
I see it as if they do NOT get the financial help they need from the banks and the Hon Hai offer is now almost 2/3rds less than what is was, then Sharp maybe forced by Hon Hai investors to sell off profitable operations to raise cash.
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Re: Sharp has Serious Money Problems!
news updated for Sharp, http://in.reuters.com/article/...dINL4E8JK2J520120820 * Sharp hires two consultants, including PwC, for report - sources * Sharp's debt totals $16 billion * Sharp shares fall 5.4 percent to 174 yen in Tokyo By Taiga Uranaka and Nobuhiro Kubo TOKYO, Aug 20 (Reuters) - Japan's embattled TV maker Sharp Corp will submit an asset appraisal report to its banks next month they will use to identify businesses the century-old company has to sell in return for funding, sources...
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Re: Sharp has Serious Money Problems!
(Reuters) - Sharp Corp's main creditors Mizuho Corporate Bank and Mitsubishi UFJ Financial Group are considering extending about 200 billion yen ($2.52 billion) in new loans to the struggling TV maker, Japanese media reported, sending its shares higher on Thursday. The embattled company, with debt of 1.25 trillion yen ($16 billion), is considering selling assets and cutting jobs as it scrambles for money to refinance as much as 360 billion yen of short-term commercial paper and a 200...
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Re: Sharp has Serious Money Problems!
By James Topham and Tim Kelly TOKYO | Mon Aug 27, 2012 3:14pm IST TOKYO (Reuters) - Taiwan's Hon Hai Precision Industry (2317.TW) Chairman Terry Gou said an agreement to buy a 9.9 percent stake in Sharp (6753.T) was unchanged "in principle," and that he hoped to conclude the deal with the struggling Japanese TV maker this week. The two firms reached a deal in March valuing the shares of the cash-starved maker of Aquos TV at 550 yen each, but reopened talks this month after Sharp's stock...
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Re: Sharp has Serious Money Problems!
The share price of Sharp Corp. rose 9.13 percent to close at the day's high of 215 Japanese yen on the Tokyo Stock Exchange Tuesday. The rally was seen as a positive response to Taipei-based Hon Hai Group Chairman and founder Terry Gou's announcement in Tokyo a day earlier that he is committed to finalizing an agreement to take a capital stake in the struggling Japanese electronics firm. Speaking at a news conference for a Taiwanese trade delegation visiting Japan, Gou said the details of...
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Re: Sharp has Serious Money Problems!
In this latest go round seems thing are somewhat rosier for Sharp. "Their common goals will include selling 1 million Sharp-brand mobile phones annually in China, consolidating Sharp's share of China's big-screen LCD TV market and tapping into North America's lower-end LCD TV market, the sources said. Moreover, the sources added, Apple Inc., Hon Hai and Sharp will collaborate to fight against South Korean dominance in the global smartphone and LCD markets". No mention of copier in future plans?
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Re: Sharp has Serious Money Problems!
Sharp Corp. (6753), the Japanese panel maker selling a stake to Foxconn Technology Group, fell in Tokyo trading after its credit ratings were cut and a report said the company offered to lower the price of the shares. Sharp dropped as much as 8.1 percent to 182 yen and traded at 188 yen as of 1 p.m., extending the Osaka-based company’s decline this year to 72 percent. Hon Hai Precision Industry Co. (2317), Foxconn’s flagship company, rose to the highest level in four months in Taipei after...
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Re: Sharp has Serious Money Problems!
TOKYO (Reuters) - Japan's embattled Sharp Corp <6753.T> has mortgaged nearly all of its domestic offices and factories, including one which makes screens for Apple Inc's latest iPhone, to secure the fresh loans it needs to stay in business. Sharp, which is waiting for a cash injection from Hon Hai Precision Industry Co Ltd <2317.TW>, said it has offered the properties as collateral for up to 150 billion yen ($1.92 billion) of credit from Mizuho Financial Group Inc <8411.T>...
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Re: Sharp has Serious Money Problems!
The 100-year-old inventor of mechanical pencils needs to pen a new plan to make it to 101. Sharp Corp. (6753), Japan’s biggest liquid-crystal display maker, put up its Osaka headquarters and some plants as collateral last week to win bank loans after its credit ratings were cut to junk. The supplier to Apple Inc. (AAPL) is also renegotiating a stock sale to Taiwan’s Foxconn Technology Group as it tries to recover from record losses and a 70 percent slump in shares this year. Within six...
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Re: Sharp has Serious Money Problems!
(Reuters) - Japan's Sharp Corp said it will trim salaries of its managers by a tenth for a year and seek an across-the-board wage cut for other workers as the cash-strapped TV maker looks for fresh ways to save money. In addition to a 10 percent pay cut, Sharp said in a statement on Tuesday it will also halve bonuses paid to managers, while seeking union agreement to lower the salaries of rank and file workers by 7 percent for a year, deeper than a 2 percent cut agreed in May. The latest...
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Re: Sharp has Serious Money Problems!
Yoda: Just can't seem how they can pull out of this, the only way would be a much smaller and leaner sharp. Hon Hai has still yet to pull the trigger, maybe terry is thinking he can pick up the pieces. The debt is massive.
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Re: Sharp Selects Malone Office Environments as Authorized Dealer and Expands National In
This is interesting, in two weeks there has been two press releases in the US that Sharp has signed on new dealers. I follow all of the Sharp USA press release and can't ever remember getting a Press Release about "signing on a new dealer". I mentioned this today in conversation with another industry person today, and we both agreed that A) things are really bad with sharp and B) Sharp USA is trying to hold the fort together at least in the USA Marketplace. Just today another Rueters report...
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Re: Sharp has Serious Money Problems!
TOKYO (MarketWatch) -- Sharp Corp. is considering selling its TV assembly plant in Malaysia to its Taiwanese business partner Hon Hai Precision Industry Co. , Kyodo News reported Saturday, citing sources close to the issue. As the Malaysian plant has around 2,000 workers, the job cuts by the cash-strapped Osaka-based company will total around 10,000, including already announced workforce reductions. Sharp has almost decided to sell its TV assembly plants in Mexico and China to Hon Hai to...
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Re: Sharp has Serious Money Problems!
Sharp Considers 10,000 Job Cuts . BY ATSUKO FUKASE TOKYO—Sharp Corp. has submitted a new restructuring plan to its lenders setting out job cuts of more than 10,000 and the sale of assets including overseas plants, as the consumer-electronics maker seeks to convince banks it can return to profitability even without a planned cash infusion from Taiwan's Hon Hai Precision Industry Co. A person briefed on the plan also said Tuesday that Sharp is in talks with Intel Corp. over a business tie-up...
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Re: Sharp has Serious Money Problems!
TOKYO (Reuters) - Mizuho Financial Group and Mitsubishi UFJ Financial Group, the two main lenders to Sharp Corp, have approved a 210 billion yen bailout of Japan's troubled TV maker, sources said on Thursday, clearing a major obstacle to firm's survival. The two banks have been orchestrating Sharp's funding plans in exchange for drastic changes at the century-old firm, including selling overseas TV assembly plants and shutting solar panel businesses in Europe and the United States. Sharp,...
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Re: Sharp has Serious Money Problems!
Hon Hai Precision Industry Co. has asked Sharp Corp., currently under rehabilitation, to spin off its small and midsize liquid crystal display business into a joint venture between them, it has been learned. In addition to establishing a joint company to produce and market LCD panels--a sector seen as Sharp's main source of revenue--the Taiwan firm is also demanding the Japanese company accept board members from Hon Hai, sources said. Sharp is in talks with Hon Hai over the former's proposal...
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Re: Sharp has Serious Money Problems!
Banks bailing out money-losing Sharp Corp. (6753) to the tune of $4.6 billion may increase their management oversight of the Japanese television maker to support its return to profit. Mizuho Corporate Bank Ltd. and Bank of Tokyo-Mitsubishi UFJ Ltd. plan to send executives to Sharp, the Asahi newspaper reported yesterday. The lenders, based in Tokyo, are selecting the executives and plan to discuss the matter with the company, the newspaper reported, without saying how it obtained the...
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Re: SHARP Action
All of the Sharp doubters need to read this report from computerworld: IDG News Service - Intel is in final negotiations to invest up to $500 million in struggling Sharp of Japan, the Kyodo News agency reported Tuesday. Japan's largest news agency said the companies were discussing an investment of between 30 billion and 40 billion yen. It reported Sharp is also negotiating with Qualcomm, the U.S. maker of chips and components for mobile devices. Sharp, in the midst of a restructuring and...
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Re: Sharp has Serious Money Problems!
Nov 15 (Basis Point) - Hon Hai Precision Industry Co Ltd's chairman is lining up a T$19 billion ($654 million) loan for his purchase of a stake in Sharp's 10th-generation liquid crystal display (LCD) plant, said sources with knowledge of the matter. Chairman Terry Guo is providing a personal guarantee on the loan, the sources said, who declined to be identified as they were not authorised to speak to the media. A Taiwan investment company owned by Guo will be the borrower on the financing,...
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Re: Sharp has Serious Money Problems!
Sharp Update!! Intel may take a 30 billion yen investment in Sharp by the end of the month, the 30 billion yen is less than 10% of what Sharp expects to lose this year. There was also a report that Qualcom may also do something. In another report Ming the Merciless aka Terry Guo is providing a personal guarantee for HonHai to move foward with his purchase of Sharp's 10th gen LCD plant. It's reported for about 19 billion yen. Keep in mind that Sharp is expected to lose 450 billion yen this...
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Re: Sharp has Serious Money Problems!
Taipei, Dec. 2 (CNA) Hon Hai Precision Industry Co., the world's largest contract electronics maker, declined Sunday to comment on a Japanese newspaper report that said Sharp has agreed to sell its three overseas TV factories to Hon Hai. The Sankei Shimbun cited anonymous sources that it claimed are familiar with the matter as saying that Sharp has reached a 55 billion yen (US$1.83 billion) deal with Hon Hai to sell its three factories in Mexico, China and Malaysia. According to the report,...
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Re: Sharp has Serious Money Problems!
Hon Hai's Gou says talks on investment in Sharp still on: paper (Reuters) - Qualcomm's tie-up with Sharp Corp will not affect Hon Hai Precision's talks with the Japanese firm to become its biggest shareholder and the deadline to reach a decision by next March still stands, a Taiwan newspaper reported on Wednesday, quoting Hon Hai's chairman. Terry Gou, chairman of Hon Hai Precision Industry, a major supplier of parts to Apple Inc, was mentioned by the United Evening News as saying the Taiwan...
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Re: Sharp has Serious Money Problems!
Sharp has mortgaged nearly all its properties to secure a $4.6 billion bailout from Japanese banks and so has few assets to offer in a grand garage sale. Instead, it's selling part of the garage. Qualcomm has agreed to buy a 5 percent stake in Sharp, making it the largest shareholder. Hon Hai, which earlier this year agreed to invest in Sharp - before its stock slumped in the wake of record losses - has said it remains interested in taking a stake. "Whatever they can get to get through this...
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Re: Sharp has Serious Money Problems!
Sharp's plan to sell Nanjing plant to Hon Hai on hold: TOKYO/TAIPEI: Struggling Japanese TV maker Sharp's plan to sell its Nanjing plant in China to Taiwan's Hon Hai Precision Industry has been frozen and may not materialise, a source familiar with the matter said on Thursday. Sharp, which supplies screens to Apple for its latest iPhone, considers selling its Mexican plant to Hon Hai to be more important, and talks to sell the Nanjing plant, which assembles large-size liquid crystal display...
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Re: Sharp has Serious Money Problems!
Jan. 1st 2012 Embattled Japanese electronics firm Sharp is considering making a public share offering worth more than 100 billion yen ($1.15 billion) early this year, a report said Tuesday. The public offering could take place in the spring with the firm hoping to use the funds to strengthen its mainstay liquid crystal display (LCD) business and improve its creditworthiness, the Yomiuri Shimbun newspaper said. Sharp has started talks with major creditor banks and wants to include the capital...
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Re: Sharp has Serious Money Problems!
(Reuters) - Sharp Corp had a better-than-expected operating profit for October-December, its top executive said on Monday, as the struggling Japanese consumer electronics giant scrambles to generate profits in the hopes of securing fresh financing. The maker of Aquos brand TVs is projecting an operating profit in the October-March second half of its business year. That would unlock additional funds from banks, after the company won a $4.4 billion bailout from its lenders in October. Sharp...
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Re: Sharp has Serious Money Problems!
Taipei, Jan. 14 (CNA) Taiwan-based Hon Hai Precision Industry Co. confirmed Monday that it still plans to buy a stake in ailing Japanese electronics giant Sharp Corp., after a Sharp executive said the company may have several suitors. Negotiations on the possible tie-up are ongoing, a Hon Hai spokesman said when asked about comments on the potential deal made by Sharp China Group general manager Nobuyuki Sugano to a Chinese newspaper over the weekend. Hon Hai, the world's biggest contract...
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Re: Sharp has Serious Money Problems!
Sharp cuts 70 jobs from its mobile business in China but denies it will exit the market Sharp has confirmed that it is laying off 70 employees from its mobile business in China, but the company maintains it will not exit the country’s phone market, according to local media reports. A Sharp PR representative told Chinese new site National Business Daily that the firm is adjusting its business in China with the restructuring, which will see partner Foxconn take control of the development and...
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Re: Sharp has Serious Money Problems!
TOKYO (Reuters) - Sharp Corp eked out a quarterly operating profit on Friday, improving the bailed-out consumer electronics maker's chances of convincing lenders and shareholders that it remains a viable company. Sharp stuck to its forecast for a 13.8 billion yen ($151 million) operating profit in the second half, after losing 168.9 billion yen in the first half as the maker of goods from airconditioners to televisions was savaged by lower-cost rivals. "The results gave a sense of relief to...