Business Standard

Sharp asks turnaround fund to take stake worth up to 30 bln yen -Nikkei

Image

Reuters TOKYO

TOKYO (Reuters) - Sharp Corp <6753.T> has asked a corporate turnaround fund, Japan Industrial Solutions, to take stake of up to around 30 billion yen ($250 million) to help with the embattled electronics maker's restructuring, the Nikkei business daily reported.

Japan Industrial Solutions would purchase preferred or common shares in Sharp, the Nikkei said, adding that Sharp hopes to receive the investment by March 2016.

($1 = 120.0800 yen)

(Reporting by Chris Gallagher; Editing by Edwina Gibbs)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 06 2015 | 5:00 AM IST

Explore News