The following appears on wsj.com
TOKYO—Sharp Corp. President Kozo Takahashi plans to meet with the troubled electronics company’s two main lenders on Thursday to ask for a new round of financial support, less than three years after its last bailout, according to people familiar with the situation.
- Sharp Electronics to award over $100K in products to U.S. schools
- Cloud Portal Office has greatly increased the efficiency in how we run school board business
- Sharp Builds a Hi-Tech University Rec Center
Mr. Takahashi is expected to present a turnaround plan to the core banking units of Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc., which together hold more than ¥400 billion ($3.3 billion) in Sharp debt. People briefed on Sharp’s interactions with its lenders said the plan could include exiting businesses such as solar panels and seeking funds from other investors.
The people said a debt-for-equity swap was one of the options being considered. Such maneuvers typically involve a lender exchanging debt for an ownership stake in the debtor. One of the people said Mr. Takahashi also plans to meet with several companies that might be interested in investing in Sharp, which makes LCD panels for AppleInc. and other smartphone providers as well as consumer goods.
Click here to read the rest of the article on wsj.com