News that Sharp may be moving to spin off its LCD panel-making unit has buoyed appetite for its stock, but analysts remain unsure about the outlook for the troubled consumer electronics giant.
According to a report by the Nikkei business daily, the century-old company is seeking help from government-backed Innovation Network Corporate of Japan (INCJ) to spin off its small and midsize liquid crystal displays (LCD) business in the current fiscal year. The INCJ could invest 100 billion yen (approximately $834 million) in the new entity, which supplies displays to smartphone and tablet manufacturers. read more here
A Sharp spokesman confirmed to Reuters that the Osaka-based maker of AQUOS TVs is considering various reforms for its LCD unit, but said no decision had been made.
On Tuesday, the Tokyo-listed stock shot up 2.5 percent, extending a more than 6 percent rally in the previous session, to finish at a near two-week high of 251 yen.