Sharp’s Default Risk Jumps as Government Rescue Prospects Fade
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Sharp Corp.’s bond risk jumped the most since 2012 on waning prospects for a state-backed rescue.
The cost to insure debt in the Japanese supplier of displays to Apple Inc. rose 210 basis points to 751 on May 21, credit-default swap data from CMA show. That is the highest for a technology company in Asia and compares with the average for such companies of 122. Innovation Network Corp. of Japan plans to reject Sharp’s investment request on concern it would face opposition from Apple and regulators, a person familiar said.