Tagged With "Hai Precision Industry"
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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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Re: Hon Hai formally offered to invest in Sharp last week: source
I just wonder how long they will all keep a sinking ship above water. I know the imaging group is doing ok but it can't make up but a small percentage of sharps overall portfolio.
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Japan fund makes late move to thwart Hon Hai in Sharp battle: sources
A Japanese state fund is making a final effort to secure a takeover of Sharp Corp ( 6753.T ) as the ailing electronics maker considers a higher $5.8 billion offer from Taiwan's Foxconn ( 2317.TW ), criticizing the composition of the company's board, sources said. Innovation Network Corporation of Japan (INCJ) officials are taking issue with two of Sharp's board members who they believe have a conflict of interest as they represent a fund that holds preferred shares in the electronics...
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Japan's Sharp to vote on rival takeover bids on Thursday: sources
Sharp Corp ( 6753.T ) plans to choose between rival rescue offers as soon as Thursday, as a favored bid from Taiwan's Foxconn continues to be challenged by a Japanese state-backed investment fund, people with direct knowledge of the matter said. The board of the ailing electronics maker met on Saturday to discuss the two takeover proposals, according to the sources, who requested anonymity because they were not authorized to speak to the media. The company's 13-member board holds a regularly...
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Sharp to start two-day board meeting on Foxconn's $5.9 billion offer - sources
TOKYO Loss-making Japanese electronics maker Sharp Corp's ( 6753.T )board begins a two-day meeting on Wednesday to decide if it should accept a $5.9 billion (£4.2 billion) takeover by Taiwan's Foxconn instead of an offer from a state-backed fund, sources with direct knowledge of the matter said. A deal with Foxconn, the world's biggest assembler of Apple Inc ( AAPL.O ) products known formally as Hon Hai Precision Industry Co ( 2317.TW ), would pave the way for the largest acquisition by a...
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Sharp eyes quick close to Hon Hai takeover deal
Sharp Corp. said Monday it hopes to finalize a takeover deal with Taiwan’s Hon Hai Precision Industry Co. “as soon as practically possible” without setting a deadline for inking the bailout package. “Sharp and Hon Hai Precision Industry have not set a signing date,” the electronics giant said in a statement. “Both companies are working hard to reach a satisfactory agreement as soon as practically possible.” The statement came after sources familiar with the matter said before the weekend...
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No Foxconn-Sharp deal before Wednesday
TAIPEI/TOKYO -- Key iPhone assembler Hon Hai Precision Industry will sign an agreement to acquire Sharp , the embattled Japanese electronics maker, perhaps by Wednesday, a person familiar with the talks has told the Nikkei. The two sides had agreed to try to wrap up a deal by Monday, but according to the source, Wednesday is now the earliest the acquisition could be made. The person did not elaborate on the reasons behind the delay. Another source said the two sides will finish their due...
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Hon Hai looks to delay signing of Sharp bailout as talks with creditor banks over losses continue
Taiwan’s Hon Hai Precision Industry Co. may delay until next week the signing of a deal to acquire struggling Japanese electronics maker Sharp Corp., due to ongoing talks with Sharp’s two main creditor banks over the firm’s potential future losses, it was learned Tuesday. In the wake of the recent revelation of Sharp’s contingent liabilities totaling about ¥350 billion, Hon Hai, also known as Foxconn Technology Group, is discussing a possible review of support for Sharp with the two banks —...
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Foxconn-Sharp: All Cards on the Table
Sharp Corporation, which has about $6.2 billion in interest bearing debt, has been offered a revised deadline and lowered interest rate on lending from two major banks. The company has also been offered other forms of financial support to help speed up Foxconn Technology’s planned acquisition of the Japanese electronics maker’s assets. Hon Hai Precision Industry, commonly known as Foxconn, halted the acquisition process worth up to $5.8 billion after receiving previously unrevealed documents...
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Foxconn Firms $2.7B Credit Line For Sharp Takeover
Foxconn, formally known as Hon Hai Precision Industry Co., has reached an agreement with Sharp Corp.’s banks to extend a 300 billion yen ($2.7 billion) credit line to the troubled Japanese electronics major, Bloomberg reported, citing Japanese newspaper Yomiuri Shimbun, Saturday. The agreement will reportedly allow Sharp to borrow from its lenders Mizuho Financial Group Inc. and Mitsubishi UFJ Financial Group Inc., if it suffers losses from potential liabilities or needs new investments.
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Hon Hai Sharp purchase unlikely to be concluded in March, claim analysts
The move is an indication that the marriage of Hon Hai and Sharp is already definitive, some said, adding that the merger will be finalized as early as next week. According to public data publicized by the Taiwan Stock Exchange, Gou put up over 170 million shares as pledged on Feb. 15. The stocks are worth NT$12.69 billion in total value, and based on conventional practice, banks will grant Gou a NT$7.6 billion loan, which is 60 percent of the collateral value. The stocks account for 8.6...
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Hon Hai to up investment offer for Sharp to about $5.9 billion: Yomiuri
Taiwan's Hon Hai Precision Industry Co ( 2317.TW ) is set to offer to invest about 700 billion yen ($5.9 billion) in Sharp Corp ( 6753.T ), the Yomiuri daily reported, upping its proposal and sending shares in the troubled Japanese display maker soaring. Hon Hai, also known as Foxconn, could make the offer, its final proposal, as early as Friday, the Japanese newspaper said on Friday. It had previously proposed a maximum 500 billion yen investment, the Yomiuri said. The report sent shares in...
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Foxconn details offer for troubled Sharp, Gou steps in: source
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...
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Hon Hai CEO says Sharp to decide on investment within week
Taiwan's Hon Hai Precision Industry Co ( 2317.TW ) said on Sunday that it was confident of its offer for Sharp Corp ( 6753.T ) and expected the struggling Japanese electronics maker to come to a decision on the issue within the week. The comments by Terry Gou, chief executive of the world's largest contract electronics manufacturer, came after he met with Sharp's board on Saturday in Japan. "I am not just bringing capital. I am bringing an entrepreneurial spirit. I am bring a culture of...
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Sharp Corporation board picks Hon Hai offer over state-backed fund rescue
Sharp board members have decided to give Hon Hai preferred negotiating rights, choosing the Taiwan firm's offer over a rescue plan from a Japanese state-backed fund, a source familiar with the move said on Thursday. Hon Hai, also known as Foxconn and one of Apple's key iPhone assemblers, offered over 700 billion yen ($5.9 billion) for Sharp, more than double the amount of investment proposed by the fund, according to Japanese broadcaster NHK. Both Sharp and Hon Hai declined to...
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Sharp seeks to nearly double number of recruits following takeover deal
OSAKA – Sharp Corp. said Monday it will nearly double the number of new recruits for fiscal 2017 as the struggling electronics maker seeks to rebuild itself under Taiwan’s Hon Hai Precision Industry Co. Sharp plans to hire 290 graduates — 200 university graduates and 90 high school and vocational school graduates. This compares with the 151 it hired in the last round. The plan was unveiled days after Sharp and Hon Hai signed a takeover deal that will mark the first foreign acquisition of a...
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Takeover of Sharp advances Hon Hai’s clean-energy ambitions
Hon Hai Precision Industry Co.’s rescue of Sharp Corp. promises to bolster the Taiwanese electronics maker’s ambitions for a bigger role in clean energy in some of the world’s most polluting countries while also providing a firmer footing in Japan. Hon Hai, also known as Foxconn, which reached a deal last week to take control of Sharp, has previously announced plans to improve energy efficiency at its factories and introduce more solar power in China and India. By buying Osaka-based Sharp,...
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Hon Hai set to hold talks with Sharp in China
Hon Hai Precision Industry Co (鴻海精密) is to hold a sales meeting with Sharp Corp at Foxconn’s plant in Shenzhen, China, next Monday in an effort to help boost the sales of the Japanese company’s products worldwide, a top Hon Hai executive said yesterday. “We plan to discuss sales in Taiwan, Southeast Asia, India, China and Hong Kong during the meeting,” Hon Hai vice chairman Dai Cheng-wu (戴正吳) told reporters on the sidelines of a Sharp product demonstration event at one of Hon Hai’s factories...
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Japan's Sharp in LCD tie-up talks with Taiwan's Hon Hai: sources
Japan's Sharp Corp is in talks with Taiwan's Hon Hai Precision Industry Co for a tie-up in its struggling flat-panel display business, according to two sources familiar with the discussion. Under the proposed plan, Sharp would spin...
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Hon Hai formally offered to invest in Sharp last week: source
Taiwan's Hon Hai Precision Industry Co offered last week to invest in struggling Japanese display maker Sharp Corp, a source with direct knowledge of the matter said on Wednesday. Sharp is still trying to turn around its business despite a $1.7 billion (£1.1 billion) rescue in May, its second major bailout in three years. Sharp and its main lenders are now considering multiple proposals from Hon Hai, also known as Foxconn, including financing for its display operations and an investment in...
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Sharp Corp rallies 8% on reported Hon Hai deal
Sharp shares spiked as much as 8 percent early on Monday amid reports that Taiwan's Hon Hai Precision Industry , also known as Foxconn Technology, is willing to shell out 300 billion yen ($2.45 billion) for the Japanese electronics giant following months of speculation. However, there are strings attached. Under the proposed deal, Hon Hai—the world's largest contract supplier of electronics products—is demanding Sharp undergo a complete management reshuffle, including the resignation of...
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Sharp reportedly to lay off 1,000 employees after Hon Hai deal
Tokyo, April 28 (CNA) Sharp Corp. is planning to lay off about 1,000 employees as part of its efforts to strengthen its financial structure after the loss-incurring Japanese firm inked an agreement to sell a majority stake to Taiwan's Hon Hai Precision Industry Co. (鴻海) earlier this month, according to a news report. The Nihon Keizai Shimbun (Nikkei) said that although Hon Hai had said it would retain as many of Sharp's employees as possible after the acquisition deal, as the Japanese firm's...
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Sharp to move headquarters to Sakai plant operated with Hon Hai
OSAKA – Sharp Corp. is considering moving its headquarters to a plant in Osaka Prefecture, jointly operated with Taiwan’s Hon Hai Precision Industry Co., which has agreed to take over the struggling electronics maker, sources close to the matter said Wednesday. The envisaged relocation within the prefecture from the city of Osaka to Sakai is designed to strengthen coordination with Hon Hai, an Apple Inc. supplier better known by its trade name Foxconn as Sharp aims to become profitable...
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Sharp begins sales of first robot phone RoBoHon
TOKYO — It looks like a toy, speaks like a robot, it dances and sings, but most importantly answers your phone calls and sends your emails. Meet RoBoHon — the world’s first humanoid robot smartphone. The 19.5-cm-tall robot phone manufactured by Sharp Corp, officially went on sale Thursday, marking the beginning of the company’s efforts to develop next-generation communication appliances under the leadership of Taiwan’s Hon Hai, which recently took over Sharp. read more here (make sure you...
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Doug Albregts Named Sharp Electronics President/CEO
Sharp Corporation has appointed Doug Albregts as president/CEO of Sharp Electronics Corporation (SEC), its wholly owned subsidiary in charge of the Americas business. Albregts will officially succeed Toshiyuki Osawa, who previously held the position. The move stems from Sharp Corporation's recent alliance with Hon Hai Precision Industry Co. Hon Hai brand Foxxconn acquired Sharp Electronics for $3.8 billion in August, assuming a 66 percent ownership stake. Albregts will also remain president...
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Sharp says expects significant profit improvement, shares surge
Japan's Sharp Corp on Wednesday said it expects significant improvement in annual profit due to restructuring and synergies with new owner Foxconn, sending shares in the display maker soaring more than 10 percent. The statement came after the Nikkei business daily reported that Sharp forecasts operating profit of about 40 billion yen ($385 million) for the business year through March. That would compare with the 6.6 billion yen average of 11 analyst estimates in a Thomson Reuters I/B/E/S...
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Sharp posts another loss on phone screen struggles
TOKYO--Sharp Corp. (6753.TO) reported another fiscal second-quarter loss on Tuesday, as its smartphone display-panel business continued to struggle. For the quarter ended September, the Osaka-based electronics maker narrowed its loss to 17.9 billion yen ($170.8 million) from Y49.6 billion a year earlier. Taiwanese iPhone assembler Foxconn Technology Group, formally known as Hon Hai Precision Industry Co. (2317.TW), bought Sharp in August after the Japanese company had been battered by...
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Sharp, Foxconn planning IP management venture
September 13, 2016 5:54 am JST Sharp, Foxconn planning IP management venture OSAKA -- Sharp and Taiwanese parent Foxconn will set up an intellectual property management company Oct. 3 to make better use of the Japanese electronics maker's holdings and employees. The intellectual property itself will remain in Sharp's possession but be managed by the new Osaka-based venture, ScienBiziP Japan. ScienBiziP Japan will be capitalized at 5 million yen ($49,100). Sharp will hold a 51% stake, while...
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Sharp shares fall below Foxconn's planned buyout price
TOKYO -- Shares in Sharp fell for the third straight day on Monday, at one point sliding 5 yen, or 5.4%, from Friday's close to 87 yen, below the 88 yen per share that Taiwan's Hon Hai Precision Industry has agreed to pay to acquire the Japanese electronics manufacturer. Sharp said there are no plans to change the acquisition terms set by Foxconn, as Hon Hai is also called, but some market watchers are concerned that if Sharp's market cap falls below the planned buyout price, the takeover...
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Japan may block Toshiba sale to firm with China ties
Japanese daily the Mainichi reports that national security concerns are being raised surrounding the sale of Toshiba’s proposed semiconductor company. Toshiba is in desperate need of cash, following massive losses from its US nuclear power business, but they may face obstacles for this sale that involves sensitive technology. One bidder, Taiwan’s Hon Hai Precision Industry Co, has raised concerns because of its ties to China. read more here
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Re: Doug Albregts Named Sharp Electronics President/CEO
oh boy, you are right, this came across in my google alerts, did not give it a good read, my bad.
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Re: Doug Albregts Named Sharp Electronics President/CEO
this is what I should have posted: Doug Albregts Sharp Corporation has appointed Doug Albregts as president/CEO of Sharp Electronics Corporation (SEC), its wholly owned subsidiary in charge of the Americas business. Albregts will officially succeed Toshiyuki Osawa, who previously held the position. The move stems from Sharp Corporation's recent alliance with Hon Hai Precision Industry Co. Hon Hai brand Foxxconn acquired Sharp Electronics for $3.8 billion in August, assuming a 66 percent...
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Re: Doug Albregts Named Sharp Electronics President/CEO
Just changed it! Thank you for the heads up on this
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Re: Doug Albregts Named Sharp Electronics President/CEO
Ha! If that's the worst thing you do, then you have nothing to worry about! I appreciate all you do to keep this forum going year after year. I sell Sharp so this is of interest to me. And I can tell you that Doug is a great guy! He is a wise choice. Thanks!
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Re: Doug Albregts Named Sharp Electronics President/CEO
I only read good things about him. Thanks again for being a great P4P'er and keeping me on my toes!
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Sharp’s Foxconn parent hit by ransomware
Sharp’s parent hit by ransomware Foxconn, aka Hon Hai Precision, owner of Sharp, notified an unknown number of employees and customers that it was hit by ransomware attack. The DoppelPaymer ransomware gang has taken credit for the attack, and has begun posting confidential data on the Dark Web. Demanding $34,686,000.00 ransomware payment Claims to have accessed and encrypted 1200-1400 servers with up to 30 terabytes of info
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Sharp hires new executive
Sharp hires new executive Sharp is a division of Hon Hai Precision (aka Foxconn) of Taiwan Announced it has hired Joe O’Malley as new SVP of Sharp Business Systems, which is the factory direct branch division of Sharp in the U.S. Reporting to Mike Marusic, president and CEO
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Sharp’s parent has factory hacked
Sharp’s parent has factory hacked Security Week magazine is reporting that a manufacturing plant owned by Foxconn (aka Hon Hai Precision) in Baja California, Mexico was hit by LockBit ransomware forcing its systems offline The plant employs 5,000 people The hacking group is threatening to release stolen information on 6/11/2022 if Foxconn does not pay ransom
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Sharp’s parent struggles to produce iPhones
Sharp’s parent struggles to produce iPhones Foxconn, aka Hon Hai Precision, and owner of Sharp, is main assembler of Apple iPhones Its plant in Zhengzhou, which employs 200,000 people in China, has been rocked by employee discontent, according to report from Reuters News Caused by stringent measures enforced by Chinese government to stop spread of COVID-19 Workers have been seen fleeing the plant The company is denying reports that 20,000 workers had been put in COVID quarantine Production...
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Sharp’s parent to focus on electric cars
Sharp’s parent to focus on electric cars Sharp is a division of Foxconn of Taiwan (aka Hon Hai Precision) “We are not in the business of selling our own brand of electric vehicles, but we do want our customers to sell a lot of electric vehicles”; stated Liu Young-way, chairman of Foxconn Aims to manufacture much of the world’s electric vehicles Goal of $31 billion in electric vehicle sales revenue in 2025 Will use plants in Taiwan, Thailand and the U.S.
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Sharp’s parent to raise pay
Sharp’s parent to raise pay Foxconn, aka Hon Hai Precision of Taiwan and owner of Sharp, is preparing for hopeful surge in Apple iPhone sales later in 2023, as it is the main assembler of Apple products Announced it will pay $424 as a new hire bonus for workers at its Zhengzhou, China plant Must stay on job for 90 days On top of starting salary of $2.97 per hour Existing employees get $70.49 for a referral In 11/2022, workers at the plant staged violent protests over pay and working...
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Sharp reports last quarter earnings
Sharp reports last quarter earnings Division of Foxconn of Taiwan (aka Hon Hai Precision) Total revenue down 11.3% to 617 billion yen ($4.09 billion) Operating profit of 1.1 billion yen ($7.29 million) Smart Office Group (printers, MFPs, etc.) Operating profit up 394.9% to 6.7 billion yen ($44.41 million) Revenue down 4.8% to 144.8 billion yen ($959.58 million)
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Foxconn to shrink size of Sharp?
Foxconn to shrink size of Sharp? Article published by Jiji Press of Japan Foxconn of Taiwan (aka Hon Hai Precision) is owner of Sharp, and apparently is considering closing the Sharp plant in Sakai, Japan Plant currently makes large LCD panels “drastic measures are necessary to get out of the red” Sharp division of Foxconn may post a loss of 10 billion yen for current fiscal year