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Thursday, March 28, 2013
Sharp Receives 10 bil. yen Investment From Samsung


Sharp today confirmed the payment for the issue of new shares by third party allotment to Samsung Electronics Japan Co., Ltd., has been completed.

Sharp issued 35,804,000 new shares alloted to Samsung, priced at 10,383,160,000 yen -- 290 yen per share. The move would giving the South Korean electronics conglomerate about a 3% stake in Sharp. and would allow it secure a supply of liquid-crystal displays.

Strugling Sharp is also trying to develop business alliances and include them in its next business plan to revive earnings.

In September, the Japanese company signed an agreement with Japanese banks for a 360 billion yen loan. The company secured 30 billion yen in funds from three banks this month, according to reports.

In December, Sharp said Qualcomm would pay as much as 9.9 billion yen for a stake and would cooperate on display technology.

Bloomberg also today reported that Sharp was considering seeking investments from private equity funds or even sell shares to the public to replenish dwindling cash.


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