In new data coming out of Japan, Sony has reported their 9-month results for the current fiscal year revealing solid profitability that makes it clear that their turnaround efforts are producing serious and durable results. Of a total of 439 companies reporting YTD (3-quarter) results, a report in the Nikkei had “Sony stealing the spotlight” with a “sharp turnaround” in its bottom line.
Asian Connection
Foxconn’s Full Court Press to Win Sharp
CEO Gou Goes All Out – Meets Face-to-Face with Japanese Gov’t Officials
Although the odds appear stacked against Taiwan’s Foxconn in its bid to acquire Sharp Corp., new reports suggest that CEO Terry Gou has intensified his efforts to win the troubled Japanese giant by meeting directly with Japanese government officials and offering new promises. In a report out of Japan by Reuters, sources are saying that Gou will do whatever it takes to win the company, including detailing more of his plans to assuage concerns and eliminate opposition to the deal.
But can Gou pull it off over a competitive bid from a government-backed entity?… [Read more…] about Foxconn’s Full Court Press to Win Sharp
Foxconn Goes All In – Ups Offer to $5.3 Billion to Bag Sharp
But Will They Lose Out to a Bid Only Half as Much?
Hon Hai Precision Industry Co., the largest Apple, Inc. supplier that is better known as Foxconn, has upped the ante according to a report in the Wall Street Journal, doubling their initial offer to a big $5.3 billion. Yet many in Japan are predicting that the Taiwanese company will lose to another bid rumored to be only half as much. How is that possible?
See the rapidly increasing drama surrounding a once mighty world brand… [Read more…] about Foxconn Goes All In – Ups Offer to $5.3 Billion to Bag Sharp
Toshiba Credit Rating Cut to ‘Junk’ Status by Moody’s
Last week, Moody’s Investors Service announced that it was cutting Toshiba Corp.’s long-term senior bond rating to Ba2, or “junk” status. Considering recent reports from Toshiba, a major industry player that is stumbling in the wake of a scandalous accounting misstep reported earlier this year, the move from the rating service makes sense. But the headline about a brand that was once one of the most admired companies in Japan, and a worldwide industrial and electronics powerhouse for many years, is stunning nonetheless.
There is even more from Moody’s, who changed other ratings as well… [Read more…] about Toshiba Credit Rating Cut to ‘Junk’ Status by Moody’s
Hon Hai Precision Makes Play to Acquire Sharp
BREAKING NEWS
Sharp’s Stock Price Skyrockets on News – Up Over 8% in Trading Yesterday
The media in Japan is reporting that Hon Hai Precision Industry Co., a Taiwanese manufacturer mostly known for its Foxconn OEM division that is Apple Inc.’s largest supplier, has made a $2.5 billion offer acquire Sharp Corp., Japan’s troubled LCD display manufacturer. But Hon Hai’s offer has one very special condition of sale that won’t be popular in Sharp’s Osaka headquarters…
See what Hon Hai is demanding as a condition of the acquisition of Sharp… [Read more…] about Hon Hai Precision Makes Play to Acquire Sharp
Japanese Media Speculates Sharp May Not Survive the Winter
Toshiba, who is on the verge of announcing a record loss and plans another round of layoffs, is far from the only Japanese giant who is stumbling. A new analysis by the Nikkei suggests it’s possible that Sharp Corp. may not have enough cash to survive the winter – despite the fact that multiple potential suitors are swirling around them in a head-spinning series of negotiations that, so far, are unproductive. And the news of these new troubles have surfaced after they successfully concluded negotiations for a ¥200 billion bank bailout in April.
See more on how Sharp’s situation has deteriorated this year… [Read more…] about Japanese Media Speculates Sharp May Not Survive the Winter
Toshiba Hit with Record Fine; Shareholders Sue
Despite its best efforts to turn the corner after its forced disclosure earlier this year of one of the largest accounting scandals ever to jolt the Japanese financial community, Toshiba Corp. just keeps getting hit with more and more bad news. This bad news includes Japan’s financial regulators assessing the largest fine ever in the history of the country for financial mismanagement – ¥7.37 billion or about $60 million.
And now, the very first wave of shareholder lawsuits against former Toshiba executives are filed…and they are big.
See more on Toshiba’s continuing waves of woes… [Read more…] about Toshiba Hit with Record Fine; Shareholders Sue
Samsung Shifts Product Strategy – Targets Drone & IoT Biz
Korean media is reporting that Samsung Electronics has re-prioritized its product development plans – now setting its sights on the Internet-Of-Things (IoT) and drone product categories as its targeted growth categories. The company had also been considering pursuing 3D printing, but has put that initiative on the back-burner as it is believed to have a longer horizon to achieve profitability.
See more on Samsung’s thinking behind these new priorities… [Read more…] about Samsung Shifts Product Strategy – Targets Drone & IoT Biz
Needing Cash, Sharp Sells its Osaka Headquarters Building
Troubled Japanese electronics manufacturer Sharp Corp. announced today that it will sell its headquarters building in Osaka, as well as an additional associated building, and the land they both stand on, in a bid to raise cash. The company says it sold the properties for ¥18.8 billion ($156.8 million) which will allow them to book a special gain of ¥14.8 billion in profit from the deal in their fiscal fourth quarter, the period ending March 2016.
See more on Sharp’s situation and this transaction… [Read more…] about Needing Cash, Sharp Sells its Osaka Headquarters Building
Sharp to Ship 8K ‘Super Hi-Vision’ Sets by End of October
Sharp Corp. announced this week that it will begin to ship 8K ultra high-definition flat panel TVs and monitors by the end of October. Initially, sales are targeted at certain industrial and commercial markets – with the company saying the very first shipments are headed for broadcast stations and movie studios. This is the first step in commercializing the technology that the company has been working on for years now.
