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Japan state fund seeks Sharp debt write-off in return for investment -sources

TOKYO, Nov 24 (Reuters) - A Japanese state-backed fund has asked the main lenders of Sharp Corp to forgive some of the screen maker’s debt in return for investment, people familiar with the matter said on Tuesday.

Innovation Network Corp of Japan (INCJ) was considering investing in Sharp’s liquid crystal display (LCD) business to broker a merger or partnership with Japan Display Inc, people close to the matter told Reuters last month.

Kyodo News reported over the weekend that INCJ might invest in Sharp if banks agreed to write off an unspecified amount of Sharp’s debt.

On Tuesday, people familiar with the matter told Reuters that INCJ was wary of interest payments on the debt. (Reporting by Taro Fuse, Makiko Yamazaki and Taiga Uranaka; Editing by Christopher Cushing)

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