Hon Hai Chairman Terry Gou received a warm welcome in Kyoto, Japan on Monday after his company’s acquisition of Japanese electronics maker Sharp on Saturday. The deal marked the first foreign acquisition of a major Japanese electronics firm.
Gou went to Nara prefecture on Monday to discuss Sharp’s plans to expand its IGZO technology, which is used for making display panels. Gou received a warm welcome in Kyoto. Hon Hai is the world’s largest assembler of smartphones and other electronics products and is looking to expand its business through the takeover.
Japan’s economic news site Toyo Keizei said on Tuesday that Gou has started his plan to rebuild Sharp. Many Japanese were pleased to see Gou take his mother, wife and daughter to Kyoto on Sunday to enjoy the cherry blossoms and temples there.
During the signing of the agreement on Saturday, Gou pledged to quickly turn the company around to make it into a leading consumer brand. He also expressed interest in investing in its cutting-edge display technology.
Honhai bought Sharp for 388 billion yen (about US$ 3.5 billion) and will have a 66 percent stake in Sharp. Sharp has been operating at losses for many years.