Hon Hai chairman leaves Japan without deal on Sharp
News On Japan via Reuters -- Aug 31
Hon Hai Precision Industry's chairman left Japan on Thursday without finalizing a deal for a stake in Sharp Corp, Jiji news reported, prolonging uncertainty over an alliance that could rescue the loss-burdened Japanese display and TV maker.
Hon Hai chairman and founder Terry Gou had earlier visited Sharp's flagship LCD panel factory in western Japan, the world's most advanced and 38 percent owned by Hon Hai. Another Hon Hai executive said the two companies may spend over $1 billion to boost capacity at the Sakai plant, near Osaka.
The two firms will also use Hon Hai's procurement muscle to help Sharp cut costs, C.C. Lin, Hon Hai's most senior official in charge of the Sakai plant, told reporters after Gou's visit.
Gou, seeking to further tap Sharp's expertise to make more display panels for Apple Inc's iPhones and consumer electronics, is discussing a deal that would make Hon Hai the biggest shareholder of Sharp with at least a 9.9 percent stake.
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