Taiwanese electronics giant Foxconn says that its takeover of Japanese electronics maker Sharp could create a win-win situation for both companies.
Sharp has been suffering from a decline in its consumer electronics business.
According to Japanese newspaper Mainichi Shimbun, Foxconn’s offer could be more attractive than the government-backed fund Innovation Network Corp. of Japan (INCJ). Foreign reports indicate that Foxconn’s offer would create the biggest value for Sharp and its subsidiaries.
Foxconn has promised that it will turn up Sharp’s earnings and strengthen its operations. Foxconn’s bid for Sharp is set at US$5.5 billion, which is more than double INCJ’s offer. If the takeover goes through, it will be one of the most prominent investments by a foreign company in Japan.