Benefits
- Sharp remains operationally independent
- Continues to trade on Tokyo Exchange
- Over $450 million to be invested in Business Solutions
- Maintains Sharp brand
Details
March 30, 2016
Foxconn Technology Group
Sharp Corporation
Today both Foxconn and Sharp are pleased to announce the historic strategic alliance of two global technology leaders. The culture of both of our companies is defined by hard work, creativity and innovation. We are committed to restoring profitability and strengthening operations to once again make Sharp a leader in the global electronics arena and a world-class company with a positive outlook. Both our teams are on the same page working towards the same goal.
The tables below provide details regarding this strategic investment.
Issuance of new Common Shares
| Investment Entity | Shares | Shareholding(%) | Amount (yen) |
| Hon Hai Precision Industry | 1,300,000,000 | 26.14% | 114,400,000,000 |
| FFE （*1） | 915,550,697 | 18.41% | 80,568,461,336 |
| FTP （*2） | 646,400,000 | 13.00% | 56,883,200,000 |
| SIO （*3） | 420,000,000 | 8.45% | 36,960,000,000 |
| Total | 3,281,950,697 | 66.00% | 288,811,661,336 (88 yen per share) |
*1：FFE is Foxconn (Far East) Limited.
*2：FTP is Foxconn Technology Pte. Ltd.
*3：SIO is Sakai International Holdings Limited
Issuance of new Class C Preferred Shares
| Investment Entity | Shares | Amount (yen) | Other |
| Hon Hai Precision Industry | 11,363,636 | 99,999,996,800 | Can convert to common shares at 1:100 conversion rate in July 1, 2017 |
We are confident about our future together, as both Foxconn and Sharp have been working very closely and successfully since 2012.
Terry Gou, Founder and CEO of Foxconn, said, “I am thrilled by the prospects for this strategic alliance and I look forward to working with everyone at Sharp. We have much that we want to achieve and I am confident that we will unlock Sharp’s true potential and together reach great heights.”
Kozo Takahashi, President and CEO of Sharp, said, “I am pleased with our decision today to form a strategic alliance and merge both forces between Sharp and Foxconn to accelerate innovation with the “creativity and entrepreneurial spirit” of both our companies.”
