Foxconn continues to bargain for Sharp

Foxconn continues to bargain for Sharp

The Japanese manufacturer Sharp Electronics, was offered for sale for several months. Earlier it was reported that the Taiwanese company Foxconn Technology, which is the largest contract electronics manufacturer in the world, was one of the companies that are interested in buying a Japanese company.

Foxconn continues to bargain for Sharp

However, Foxconn – is not the only applicant for the electronic giant’s assets in Japan. The initial list of potential buyers has also been included Network Corporation of Japan (INCJ). The company is rumored to have supported the Japanese federal government that they do not want to give foreign companies the country’s intellectual property.

The most curious thing is that while the INCJ offered to pay only about $ 2.7 billion to make a deal, and the Foxconn, is reported to have offered much more money for the Sharp, about $ 4.39 ppb, however, according to recent reports from Japan, apparently, the Foxconn considering the possibility of reducing its rates by $ 898 million.

It is worth noting that the Sharp, is expected to soon announce the results for 2016, and Foxconn said that the report will show further deterioration in financial performance, with a reduction in net income and an increase in losses. This fear, in all probability, also plays a significant role in reducing the Foxconn offers.

According to reports, members of the Board of Directors of Sharp Corporation will hold a meeting later this month to analyze the current situation. If they can somehow get the money from the Foxconn, we think they will not be upset more than now, getting constant low levels during the past few years.

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