Sharp Is Seen Seeking Bailout After Record Loss Forecast
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Sharp Corp. may turn to the last resort of Japanese companies facing potential bankruptcy -- the government.
With 200 billion yen ($2.5 billion) of convertible bonds maturing in 2013, Sharp may have to ask the state Enterprise Turnaround Initiative Corp. or Innovation Network Corp. of Japan for money, said Fumiaki Sato, co-founder of Sangyo Sosei Advisory Inc., a turnaround advisory firm in Tokyo. Sharp has failed to win a planned 67 billion-yen equity investment from billionaire Terry Gou’s Foxconn Technology Group.