Sharp Corp. said Friday it has reached a deal to receive a 360 billion yen ($4.64 billion) syndicated loan, helping keep the struggling electronics maker's operations afloat amid an apparent standstill in talks with Taiwan's Hon Hai Precision Industry Co. (2317.TW) over a previously agreed capital injection.
Osaka-based Sharp said the terms of the loan, which was made with Bank of Tokyo Mitsubishi UFJ acting as arranger and Mizuho Corporate Bank acting as agent, will run until June 30.
The loan, comprising a Y180 billion term loan and a Y180 billion credit facility, means Sharp can meet a deadline to strengthen its finances before the end of September, when it has to redeem the bulk of its Y360 billion in commercial paper.
Squeezed between the strength of the yen, undermining exports, and intensifying competition from fast-growing regional rivals, Sharp has joined a swath of Japanese consumer electronics companies like Sony Corp. and Panasonic Corp. in embarking on major restructuring programs after racking up billions of dollars in losses.
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 Ministry of Land, Infrastructure, Transport and Tourism has announced that it intends to draw up a set of unified rules for the use of baby strollers on buses and trains. (Japan Today )
A man stabbed his ex-wife on a street in Isehara, Kanagawa Prefecture, on Tuesday morning, and then caused a car crash while he was fleeing from the scene. (Japan Today )
Tokyo Metropolitan Police on Monday announced the arrest of a broker of Thai females for violating immigration laws by employing the women as masseuses. (Tokyo Reporter )
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 )
Saitama and Okayama prefectural police last week arrested the manager of an online porn DVD operation that specialized in films featuring children. (Tokyo Reporter)
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 Ministry of Land, Infrastructure, Transport and Tourism has announced that it intends to draw up a set of unified rules for the use of baby strollers on buses and trains. (Japan Today 
A man stabbed his ex-wife on a street in Isehara, Kanagawa Prefecture, on Tuesday morning, and then caused a car crash while he was fleeing from the scene. (Japan Today 
Japanese Crown Prince Naruhito will visit Spain for seven days from June 10, the government said Tuesday. (Jiji Press 
Tokyo Metropolitan Police on Monday announced the arrest of a broker of Thai females for violating immigration laws by employing the women as masseuses. (Tokyo Reporter 
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 
Saitama and Okayama prefectural police last week arrested the manager of an online porn DVD operation that specialized in films featuring children. (Tokyo Reporter) 
Dozens of American children are abducted to Japan every year-not by strangers, but by parents after messy divorces. (thedailybeast.com 
A 5-year-old boy sustained an injury at a shopping mall in Nagoya on Friday after his hand became trapped in an escalator. (Japan Today