Hon Hai chairman demands management role at Japan's Sharp
News On Japan via Reuters -- Sep 04
Hon Hai Precision Industry Co Ltd's (2317.TW) chairman is demanding a management role at Sharp Corp (6753.T) as part of an equity tie-up, stepping up the pressure on the Japanese TV maker to give him greater influence in the company in return for badly needed cash.
Debt-saddled Sharp has been in talks on a partnership that would give the Taiwanese company a 9.9 percent stake in the century-old Japanese firm. Hon Hai's Chairman Terry Gou visited Japan last week but unexpectedly left before a scheduled meeting with Sharp executives, fuelling uncertainty over the tie-up.
"If it was just a capital investment, why would I want it?" Gou told Taiwan's United Evening News in an interview. "I'm not a venture capitalist."
As its shares continue to plummet, Sharp is increasingly eager to get Gou to agree to the investment, arguing that deeper cooperation in small and large liquid crystal displays and other businesses can be settled at a later date.
Gou's comments, however, suggest he may leverage that desperation to win a bigger role when Sharp's president, Takashi Okuda, turns up in Taipei.
This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times )
The parents of a nightclub worker killed in an arson fire three years ago filed a suit in the Nagoya District Court on Monday seeking damages against top members of the Yamaguchi-gumi organized crime group. (Tokyo Reporter )
Kyodo News said Monday that it has dismissed Satoshi Kondo, 51, deputy chief of its general administration bureau and former personnel affairs division chief, for meeting individually with a female student searching for a job and doing an inappropriate act.
(Jiji Press )