TOKYO (Reuters) - Japan's Sharp Corp is considering using capital to reduce accumulated losses on its book, an accounting maneuver that would allow the loss-making electronics maker to resume dividend payment earlier, a source said on Saturday.
The Osaka-based maker of LCD displays, scheduled to announce a new turnaround plan Thursday, is set to receive a $1.7 billion bailout from its main lenders in return for a promise to cut 5,000 jobs and split off its ailing smartphone display unit, a separate source told Reuters last month.
As a result of restructuring, the company is expected to report losses of more than 200 billion yen ($1.67 billion) for the year ended in March, on top of combined 900 billion yen losses in the previous three years.
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