* Sharp says too soon after last year's share offer to
consider another one
* Reiterates has received no new offer for equity deal from
* Says won't make any big investments in LCD plants in
(Adds comments from Sharp's president, context)
By Reiji Murai
OSAKA, Japan, July 1 Japan's Sharp Corp
aims to bolster its depleted finances by boosting profits and is
not considering a public share offering, which would be
unrealistic so close on the heels of an offering last year, the
display maker's president said.
The company raised about 140 billion yen ($1.38
billion)through a share sale late last year but a Japanese
newspaper report in April said it was considering another issue
over the next year to secure an additional 200 billion yen to
improve its finances.
The company's equity ratio at end-March was 8.9 percent,
below the 20 percent level typically considered a threshold of
financial health, and it decided to forego a dividend for the
"We are absolutely not considering a public share offering,"
Sharp President Kozo Takahashi told a round table for reporters
"Doing this so soon would not make sense," Takahashi said.
"We will build up our capital by boosting our profits."
Sharp has projected a rise in net profit to 30 billion yen
in the year to next March from last year's 11.6 billion, as it
seeks to turn around its fortunes after posting a massive 545.4
billion yen net loss in the year to March 2013.
It has received a $4.4 billion bailout from its banks,
issued new shares and took in equity investments from Samsung
Electronics Co and Qualcomm Inc.
Takahashi reiterated comments last week by another Sharp
executive at the company's annual shareholders' meeting that it
had received no offer from Taiwan's Hon Hai Precision Industry
Co on an equity investment. Hon Hai Chairman Terry Gou
told a Japanese magazine in an article published this month that
his company was still interested in investing in Sharp.
He added the company, a supplier of screens to iPhone and
iPad maker Apple Inc, did not expect to make any
large-scale investments - on the order of 300 billion to 400
billion yen - in the liquid crystal display business in the
Sharp had also been considering the sale of overseas TV
factories as it sought cash, but Takahashi said: "Talks with
buyers did not make progress and last year our TV operations
moved into the black. This isn't a situation in which we have to
make a sale."
($1 = 101.4600 Japanese Yen)
(Writing by Edmund Klamann; Editing by Chris Gallagher)