clock menu more-arrow no yes

Filed under:

Foxconn to take largest stake in Sharp's Osaka LCD plant, says Nikkei

New, 2 comments

Sharp will reportedly sell a further 7 percent of its stake to Dai Nippon Printing Co. and Toppan Printing Co, leaving Foxconn as the largest shareholder in Japan's most advanced LCD facility.

sharp logo
sharp logo

Last month, Sharp sold 46.5 percent of its LCD production business in Sakai, Osaka to Foxconn, retaining the same share itself with the remaining 7 percent being owned by Sony. Now, Nikkei is reporting that the troubled TV manufacturer will sell a further 7 percent of its stake to Dai Nippon Printing Co. and Toppan Printing Co, leaving Foxconn as the largest shareholder in Japan's most advanced LCD facility. Sony has the right to sell its share to Sharp any time, however, which would redress the balance. However, with Sharp forecasting record losses this year and Foxconn reporting huge profits, it may well be necessary for the Japanese manufacturer to take a back seat in its new partnership. There are also rumors that Foxconn's investment may have been with a view to a potentially larger project — the elusive Apple TV set.