UPDATE 1-Hon Hai's Gou to visit Sharp plant in Japan next week-sources
By Tim Kelly and Reiji Murai
TOKYO Aug 24 (Reuters) - Terry Gou, chairman of Hon Hai Precision Industry, will travel to Japan next week and visit Sharp's Sakai LCD TV panel plant in Osaka in western Japan on Thursday, Taiwan's defacto embassy revealed on Friday.
Gou, who recently bought a 46.5 percent stake in the Sakai plant, is a member of a Taiwanese delegation of businessmen, politicians and bureaucrats led by former vice president Vincent Siew slated to arrive in Tokyo on Sunday for a series of meeting with Japanese business leaders and government officials.
The group on Thursday will visit the Sakai plant as Gou's guests, a Taiwanese diplomat said.
Gou's visit comes as Hon Hai seeks to revise the terms of a March agreement for it to buy a 10 percent stake in Sharp for 67 billion yen ($854.81 million), which values the Japanese company's shares at 550 yen. A slump in Sharp's stock on widening losses has prompted Hon Hai to seek a better deal.
Sharp needs the capital injection from Hon Hai as it looks for cash to repay as much as 350 billion yen in short-term debt and a 200 billion yen convertible bond that matures in September next year.
The Japanese company, which is also relying on the backing of its main banks, Mizuho Financial Group and Mitsubishi UFJ Financial Group is also mulling the sale to Hon Hai of a TV assembly plant in China and another in Mexico as part of a push to offload assets to generate cash.
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