TOKYO, April 2 Japan's Sharp Corp will
unveil a business plan on May 14 that will outline how the
display panel maker will revive its business and bolster its
finances, two sources familiar with the plan said on Tuesday.
Sharp, which supplies screens to Apple Inc for its
iPhone 5, will release the plan when it announces business
results for the year that ended March 31, the sources told
Reuters on condition they were not identified.
Bailed out by banks including Mizuho Financial Group
and Mitsubishi UFJ Financial Group last year,
Sharp needs to raise cash before September to pay a $2.14
billion convertible bond.
Sources at Sharp and its banks, as well as analysts, have
told Reuters they expect the Osaka-based company will resort to
equity financing to make up any shortfall after it adds up
available cashflow and gains from asset sales and cash from
investors, including Qualcomm Inc and Samsung