Sharp Said to Consider Photocopier Tie-Up With Hewlett-Packard

Sharp Corp. (6753) is considering a photocopier-business partnership with Hewlett-Packard Co. (HPQ), according to a person familiar with the situation.

The companies are still discussing the terms, said the person, who asked not to be identified because the information isn’t public. Sharp advanced 7.6 percent, the most since July 2, to close at 299 yen in Tokyo trading.

“Negotiations were not announced by the company,” said Miyuki Nakayama, a spokeswoman for Osaka, Japan-based Sharp. She declined to elaborate.

Reuters reported earlier that Sharp may manufacture machines under the Hewlett-Packard brand, according to the potential agreement.

Samsung Electronics Co. (005930), Asia’s biggest technology company, said in March its offer to buy Sharp’s photocopier business was rejected. The price wasn’t disclosed.

Today’s advance pared Sharp’s decline this year to 1.3 percent. The broader Topix index has surged 43 percent in the same period, while Panasonic Corp. has doubled and Sony Corp. has jumped 95 percent.

To contact the reporter on this story: Grace Huang in Tokyo at xhuang66@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net

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