SHARP restructuring and layoffs will pass off Sanyuan LED factory

Global network news, according to Japan's Kyodo News reported on April 16th, the 16 media was informed on all the contents of the Sharp Co business restructuring plan, including the closure of the production of LCD TV factory in Tochigi (Tochigi County yaita), sold in Osaka City Corporation and other large-scale layoffs. SHARP submitted the plan to major trading banks. As expected in fiscal year 2014 (April 2014 to March 2015) there will be a loss of 200 billion yen (about RMB 10 billion 400 million yuan) loss, SHARP will strive to help banks and other funds to increase the amount of capital to accelerate the restructuring of 225 billion.

The proposed program will be stripped of the main LCD business, the establishment of a subsidiary, will also be at home and abroad to lay off 3000 people and about 2000 people.

On the poor performance of the solar cell business, SHARP consider including the domestic battery, including a comprehensive exit, the study will be the first sale of large photovoltaic power plants, thin film solar cell sector.

The domestic LCD TV production will be transferred to the eight tailed white goods factory (Osaka City eight). Due to the depreciation of the yen, the company had to consider the relocation of production by sea to Tochigi branch mills, but because of the deteriorating performance exceeded expectations and policy change. The future will determine the treatment and whereabouts of employees.

The plan also includes close production LED Mihara factory (Hiroshima County Sanyuan city) and sensor manufacturing factory (Hiroshima City Fushan Fushan County a total of first) to third factory 4 factory. The company will be based on the program summary of the new medium-term business plan, and released in May.

Due to the small business performance of China's smart phone LCD screen downturn, coupled with the increase in the cost of structural reforms, SHARP is expected in fiscal year 2014 will turn into a loss again after a lapse of one year. The company has to Mizuho bank and MITSUBISHI UFJ Financial Support for Tokyo.

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