Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Sharp Board Meeting to Discuss Capital Increase, Forecast Change

Sharp Aquos LCD TV
A Sharp Corp. staff member walks past the company's Aquos liquid crystal display (LCD) television series at an unveiling in Tokyo. Photographer: Tomohiro Ohsumi/Bloomberg

Sept. 18 (Bloomberg) -- Sharp Corp., which supplies Apple Inc. with liquid-crystal displays, said its board is meeting today to consider a public offering of shares and a capital alliance to boost its balance sheet.

Directors will also discuss revisions to earnings forecasts, with any decision to be announced promptly, the Osaka-based company said in a statement today. Sharp may finalize plans to raise 170 billion yen ($1.7 billion), Reuters reported, citing unidentified people familiar with the matter.

Sharp has posted losses totaling 921 billion yen during the past two financial years amid increased competition in LCDs and flat-panel televisions. The company, which supplies screens for Apple’s iPads and iPhones, has raised funds since last year by selling minority stakes to Samsung Electronics Co. and Qualcomm Inc.

The stock rose 2.2 percent to 378 yen as of 10:04 a.m. in Tokyo. The shares have climbed 25 percent so far this year, while Japan’s benchmark Topix index has gained 39 percent.

Sharp will raise 150 billion yen through a public share offering and 20 billion yen from a third-party allotment, Reuters said.

In March, Samsung agreed to buy about 3 percent of Sharp for 10.4 billion yen. Later that month, the Suwon, South Korea-based maker of Galaxy smartphones said an offer to buy Sharp’s photocopier business was rejected.

Sharp has 200 billion yen of convertible bonds maturing at the end of this month, according to data compiled by Bloomberg. Its debt is rated B+ by Standard & Poor’s, which is four levels below investment grade.

Japan’s largest maker of LCDs is forecasting net income of 5 billion yen for the year to March 2014, its first annual profit in three years, after job cuts. The company sold a stake in its largest LCD plant to Taiwanese billionaire Terry Gou last year to boost sales through his Foxconn Technology Group, the world’s biggest contract manufacturer of electronics.

To contact the reporter on this story: Robert Fenner in Melbourne at

To contact the editor responsible for this story: Michael Tighe at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.