"Looking at our overall display business
including our medium and large-sized screen operations, we
believe we should be on our own," Norikazu Hohshi, the head of
Sharp's device business, which includes displays, told reporters
at a briefing.
He was responding to speculation that loss-making Sharp could
merge its display business with Japan Display.
Sharp is due to post its third annual net loss in four years,
hurt by aggressive competition from its rival and
weaker-than-expected smartphone demand in China.
Sharp is compiling a new business plan, and sources familiar
with the matter said Chief Executive Kozo Takahashi met with
officials from its main lenders Mizuho Bank and Bank of
Tokyo-Mitsubishi UFJ last Thursday, although he did not request
specific amounts or make promises about restructuring.
Hohshi acknowledged Sharp may need help, but said nothing had
been decided.
"It is true that our capital is thin. We will need more support
in this area in the future, but that is currently under
consideration," he said.
The banks agreed in September 2012 to rescue Sharp with loans
and credit lines worth 360 billion yen, or $3 billion at today's
exchange rates, in exchange for promises to return to the black
by this year. Sharp then exited the European TV market and
closed solar-panel businesses in Europe and the United States.
(This story has been corrected to remove extra word "was" in the
first paragraph; also to specify in second paragraph that device
business includes displays)
(Reporting by Ritsuko Ando; Editing by Edwina Gibbs and Miral
Fahmy)
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