Tagged With "Gou"

Taiwan's Foxconn ( 2317.TW ) has detailed its offer for troubled electronics maker Sharp Corp ( 6753.T ), a person with direct knowledge of the talks said, potentially complicating a rescue bid led by a Japanese state-backed fund. Innovation Network Corporation of Japan (INCJ), still seen as a front runner, will go head-to-head with Foxconn in the bidding for Sharp, and its third bailout in under four years. Foxconn, formally known as Hon Hai Precision Industry, had already offered over 600...

Japanese Prime Minister Shinzo Abe came into office on a pledge of resuscitating the economy with market reforms and stimulus programs. Now his government’s commitment to shareholder rights faces scrutiny in the case of troubled electronics giant Sharp. Although the Osaka-based company is a household name because of its TVs, it’s long operated in the red. For the year ending in March, analysts estimate a loss of 82 billion yen ($694 million). Sharp is in talks with two possible saviors:...

Taiwan's Foxconn is aiming to finalise a deal to acquire Japan's Sharp Corp by the end of the month, after the two firms reached a consensus on most points, Foxconn Chief Executive Officer Terry Gou said. Foxconn, known formally as Hon Hai Precision Industry Co, has been given preferred negotiating rights and most remaining issues to be resolved were legal and regulatory, Gou said after meeting with executives of the struggling electronics maker on Friday. The Apple Inc supplier has offered...

It appears that I was wrong (would “dead wrong” be more accurate?) in my last post . Its title was: “Why Sharp Is Being Rescued By Japan Inc. And Taiwan’s Hon Hai (Foxconn) Rebuffed.” On Friday, Hon Hai Precision Machinery (Foxconn)’s chairman Terry Gou spent over eight hours in meetings with Sharp Corporation’s president, Kozo Takahashi at Sharp’s Osaka headquarters, during which Gou pitched his 700 billion yen ($5.8 billion) rescue-acquisition and restructuring plan for Sharp. Emerging...

Foxconn founder Terry Gou said there would have to be layoffs at Sharp to turn around the ailing Japanese company, but pledged that wages would rise and profit-sharing would again be the norm. “Unfortunately, a close review of the company’s operations makes it clear that the level of inefficiency throughout Sharp means that a turnaround … can only take place if there is a reduction in costs, and that comes with a very regrettable need to reduce Sharp’s workforce,” Gou wrote in an open...

TOKYO — Apple Inc and Amazon.com Inc will join Foxconn's bid for Toshiba Corp's semiconductor business, the Nikkei business daily quoted Foxconn Chairman Terry Gou as saying on Monday. The two U.S. technology giants plan to "chip in funds", Gou said, according the interview with the newspaper. It was not immediately clear if this would take the form of a direct investment in the semiconductor unit or would be financing for the deal. Taiwan's Foxconn, formally known as Hon Hai Precision...

gotta wonder how far the cuts will go, a report yesterday stated Sharp may cut 1,000 jobs from the photocopier business unit

Foxconn’s founder to run for president Foxconn, aka Hon Hai Precision of Taiwan, and owner of Sharp, announced that its billionaire founder, Terry Gou, will run for president of Taiwan “Give me 4 years and I promise that I will bring 50 years of peace to the Taiwan Strait and build the deepest foundation for mutual trust across the strait”, he stated, regarding future takeover by China Needs 290,000 signatures by 11/2/23 to qualify as an independent candidate