Key Developments: Sharp Corp (SHCAY.PK)
5.20USD
23 May 2013
$-0.52 (-9.09%)
$5.72
$5.07
$5.25
$4.90
121,714
89,143
$5.92
$1.70
Latest Key Developments (Source: Significant Developments)
R&I Downgrades Rating on Sharp Corp to “B+”; Retains on Rating Monitor with Rating Outlook Negative- Jiji Press
Jiji Press reported that Rating and Investment Information, Inc. (R&I) announced that it has downgraded the rating on Sharp Corp from “BB” to “B+” and retained the Company on rating monitor. The rating outlook is negative. Full Article
Sharp Corp Sign Business Alliance Agreement with Makita Corp
Sharp Corp announced that it has signed a business alliance agreement with Makita Corp. The two companies will collaborate in the business expansion through the product planning, manufacturing and sale. Full Article
Sharp Corp Announces Appointment of President
Sharp Corp announced that it has appointed Kozo Takahashi as President and Representative Director, to replace Takashi Okuda, effective June 25, 2013. Full Article
Sharp Corp to Sell Factory in Malaysia to Wistron Corp- Mainichi Newspaper
Mainichi Newspaper reported that Sharp Corp announced that it will sell a television assembly factory located in Malaysia to Wistron Corp. Full Article
Sharp Corp To Sell Stake In PIONEER CORP-Reuters
Reuters reported that Sharp Corp has decided to sell its 9.2% stake in car electronics maker PIONEER CORP, the Nikkei newspaper reported. Sharp has narrowed down the list of potential buyers, including car and medical device manufacturers, and could complete the sale as early as this month, the business daily said. Sharp owns 30 million shares in Pioneer worth 6.3 billion yen ($63.80 million), making the electronics maker the largest shareholder in the company, the Nikkei said. The two companies entered a capital and business partnership in 2007 to jointly develop a range of products including optical discs and automotive equipment. Full Article
Sharp Corp Eyeing Sale Of LCD TV Factory In Poland-DJ
Dow Jones reported that Sharp Corp is considering selling a Polish factory where it has been assembling liquid crystal display televisions for the European market as part of turnaround efforts, Kyodo News reported on Monday. Sharp appears to be sounding out investment funds and foreign consumer electronics makers on whether they are interested in acquiring the factory. Full Article
Sharp Corp Announces Completion of Payment to New Shares; Revises Conversion Price of Bonds with Warrants
Sharp Corp announced that the payment to its 35,804,000 newly issued common shares, at the price of JPY 290 per share, or for JPY 10,383,160,000 in total, through a private placement to SAMSUNG ELECTRONICS JAPAN, has been completed on March 28, 2013. The Company also announced that it has revised the conversion price of its 20th series unsecured bonds with warrants from JPY 2,531 per share to JPY 2,522.90 per share, effective March 29, 2013. Full Article
Hon Hai Precision Ind. Co Ltd Says Remains Committed To Buy Sharp Corp Stake; Sharp Concludes Investment Deals With Samsung Electronics Co Ltd And Qualcomm Inc.-Reuters
Reuters reported that talks on an alliance between Sharp Corp and Hon Hai Precision Ind. Co Ltd will continue even though a deadline for a deal between the two lapsed on Tuesday. Hon Hai said it remained committed to buy a 9.9% stake in Sharp. The banks, which include Mizuho Financial Group Inc and Mitsubishi UFJ Financial Group Inc had not been expecting a revised deal with Hon Hai. Sharp has concluded smaller investment deals with Samsung Electronics Co Ltd and Qualcomm Inc. Full Article
Sharp Corp Cancels Share Issuance through Private Placement
Sharp Corporation announced that it has not received the approval to issue new shares to Hon Hai Precision Industry Co., Ltd., Foxconn Technology Co., Ltd. and Q-Run Holdings Limited through private placement, which was announced on March 27, 2012. The share issuance is canceled on March 26, 2013. Full Article
Sharp Corp To Miss March 29 Deadline For Qualcomm Inc Investment-Reuters
Reuters reported that Sharp Corp will miss a March 29 deadline to receive the second half of a $120 million investment from Qualcomm Inc after it failed to complete a plan to begin fabricating power-saving screens the two companies are jointly developing. Qualcomm, which paid half the $120 million in December, set conditions for the remainder that included having completed the specifications for the smartphone and tablet PC screens and preparations for their production. Full Article
Nikkei turns up, hits 5-1/2-yr high as retail investors pick up bargains
* Retail investors pick up underperformers such as Sharp, TEPCO * Sony Financial falls after earnings guidance disappoints * SoftBank slips, Sprint permitted discussions with Dish By Dominic Lau TOKYO, May 21 - Japan's Nikkei share average hit a 5-1/2-year high on Tuesday, reversing earlier losses as retail investors scooped up underperforming stocks such as Sharp Corp and Tokyo Electric Power Co Inc. By the midday break, the Nikkei inched up 0.1 percent to 15,369
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