Ron Burgundy Posted May 14, 2015 Share Posted May 14, 2015 By Ritsuko Ando TOKYO (Reuters) - Japan's Sharp Corp said it had secured a $1.9 billion bailout, its second major bank-led rescue in three years, after falling deep into the red as its smartphone display business was battered by competition from Asian rivals. Chief Executive Kozo Takahashi said he was not considering spinning off the company's troubled display business and would continue making TVs in Japan, leaving investors doubting the company's long-term viability. Japan Industrial Solutions, a corporate turnaround fund owned by a consortium that includes the two banks, will also provide 25 billion yen in return for preferred shares. View the full article Quote Link to comment Share on other sites More sharing options...
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