Ron Burgundy Posted May 11, 2015 Share Posted May 11, 2015 Japan's Sharp Corp said it was considering a capital reduction and preferred share issuance, wiping nearly a third off its market value at one stage on Monday as investors reeled from the severity of its distress after years of losses. Sharp has been hit hard by mounting competition from cheaper Asia rivals in core its core liquid crystal panel display business. Japanese media have suggested the capital reduction is aimed at easing its tax burden as the smaller capital base will allow Sharp to be classified as a small to medium-sized enterprise for tax purposes. Sharp declined to provide further details on Monday, saying that it would make a final decision by Thursday, when it announces a new business plan. View the full article Quote Link to comment Share on other sites More sharing options...
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