Japan state-backed fund mulling majority stake in Sharp: Yomiuri

Reuters News
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Posted: Dec 01, 2015 7:19 PM

TOKYO (Reuters) - Stated-backed fund Innovation Network Corporation of Japan (INCJ) is considering buying a majority stake in Sharp Corp likely to cost about 200 billion yen ($1.63 billion), the Yomiuri newspaper reported on Wednesday.

As part of its plan for restructuring the loss-making company, INCJ may also seek the resignation of Chief Executive and President Kozo Takahashi and other top management in return for the stake purchase, the paper said.

INCJ is also considering spinning off the company's liquid crystal display (LCD) business and steering Sharp toward an integration or tie-up with rival Japan Display Inc <6740.T >, the Yomiuri said.

(Reporting by Kaori Kaneko; Editing by Chang-Ran Kim)