OSAKA Aug 31 Sharp Corp wants to
conclude a deal that would make Taiwan's Hon Hai Precision
Industry Co Ltd its biggest shareholder as soon as
possible, its chief financial officer said on Friday, as the
Japanese TV maker struggles to overcome losses that have bled it
"We want to reach agreement quickly," Tetsuo Onishi said at
a press briefing in Osaka.
Sharp wants to put the final touches to the pact that could
stretch from its TV panels to smaller liquid crystal displays
and mobile phones, he said.
Sharp's shares on Friday tumbled almost 13 percent as
investor grew more pessimistic about the TV maker's prospects.
That mood became more glum after trading closed, when ratings
agency Standard & Poor's downgraded the company's debt to junk,
underscoring worry about its ability to pay its debts and revive
Sharp and Hon Hai had been expected to close in on a deal
this week, until Hon Hai Chairman Terry Gou's sudden and
unexpected departure from Japan on Thursday, rousing investor
concern that all was not well.
Gou left for Taiwan after visiting a TV panel plant in
western Japan he jointly owns with Sharp.
Onishi in Osaka said that Sharp had been eager to decide on
the terms of its partnership with its fellow Apple Inc
supplier during Gou's visit.