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4-Traders Homepage  >  Equities  >  Tokyo  >  Sharp Corporation    6753   JP3359600008

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Sharp Plan Won't Add Hon Hai Capital Boost

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02/22/2013 | 02:45am CET

TOKYO--Sharp Corp. (>> Sharp Corporation) won't include the so-far unrealized capital injection that it was supposed to get from Hon Hai Precision Industry Co. (>> Hon Hai Precision Industry Co., Ltd.) in its midterm business plan expected to be released at the end of March, the Yomiuri Shimbun reported in its Friday morning edition.

Last year the two companies agreed that Hon Hai would take a 9.9% stake in the Japanese electronics maker at Y550 per share for a total investment of Y66.9 billion, but the deal fell into disarray after Sharp's share price tumbled on the back of poor earnings projections. Sharp's shares were off 2.5% at Y313 in early trading in Tokyo Friday.

The Yomiuri report also said that Sharp is considering receiving a capital injection from creditor banks that does not include Hon Hai.

Sharp later said in a statement that nothing has been decided on the matter and the report is not based on something that the company has released.

Write to Tokyo Bureau at tokyo.djnews@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Sharp Corporation, Hon Hai Precision Industry Co., Ltd.
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Financials ( JPY)
Sales 2017 2 042 742 M
EBIT 2017 -
Net income 2017 -35 938 M
Debt 2017 197 801 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 414,75
EV / Sales 2017 0,82x
EV / Sales 2018 0,83x
Capitalization 1 484 983 M
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Number of Analysts 12
Average target price 111  JPY
Spread / Average Target -63%
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NameTitle
Cheng Wu Tai President & Chief Executive Officer
Katsuaki Nomura Director, EVP, GM-Accounting & Finance
Mototaka Taneya Executive Officer, GM-Research & Development
Yoshisuke Hasegawa Director & Senior Managing Executive Officer
Masahiro Okitsu Director & Managing Executive Officer
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