Sharp Corp., a supplier of screens to Apple Inc., will raise as much as ¥166.4 billion in share sales in an effort to rebuild its balance sheet after record annual losses.
Japan's largest maker of liquid-crystal displays will sell as much as ¥149 billion of shares to the public, the Osaka-based company said in a statement Wednesday. The company also will make allotments to Makita Corp., Denso Corp. and Lixil Group Corp., with proceeds to be used for capital expenditure, it said.Intensified competition in LCDs and flat-panel TVs drove Sharp to losses totaling ¥921 billion during the past two financial years.
NewsOnJapan
NewsOnJapan
