Sharp Intends to Raise Capital of $ 1 Billion through Selling Shares for Continuous Losses?

According to persons familiar with the matter, Sharp Corp. Plans to raise capital of about 100 billion yen ($ 1 billion) through issuing shares in public and private ways in September.

These insiders said that Sharp Corp., the largest liquid crystal display (LED) manufacturer in Japan, aims to raise more capital through public offering. These insiders asked not to be named, because the news has not been made public. One of the insiders said that Makita Corp. and Lixil Group Corp. are likely to buy shares at the value of 10 billion yen respectively.

Sharp expressed in the statement released on August 1 that Sharp is considering adopting which way to raise capital, but has not yet made a final decision. As the supplier of Apple Inc., Sharp has reduced the stafftrimmer and sold part of its shares to Samsung Electronics Co. and Qualcomm Inc. to raise cash. In the past two fiscal years, Sharp has suffered the loss amounted to 921 billion yen.

These insiders said that Sharp may announce to issue new shares later this month and announce the earnings situation of the first quarter.

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