**Tech News Update: February 6th – Sharp and Hon Hai Continue Negotiations Amid Uncertainty**
According to a report by Nikkei Chinese Network, Sharp recently clarified that the agreement signed with Hon Hai Group did not include any provision granting priority negotiation rights. This statement came after Guo Taiming, Chairman of Hon Hai Precision Industry, held an eight-hour meeting with Sharp’s executives on February 5 regarding the potential acquisition.
During the discussion, Guo expressed concerns about Sharp’s PV battery business, which he believed was dragging down the company’s overall performance. He suggested that this segment might be sold off. However, he emphasized that Sharp as a whole would not be split up, and the brand name would remain intact. Additionally, Guo confirmed that employees under the age of 40 would not be laid off following the acquisition.
After the talks, Guo Taiming met with the media in Osaka, where he addressed concerns about potential job cuts and business division. He acknowledged these issues but stressed the need to move forward quickly with negotiations.
Guo expressed confidence in the deal, stating that around 90% of the terms had already been settled, with only legal details remaining. He believed the acquisition would eventually go through. He also highlighted his intention to revitalize Sharp using his experience in restarting businesses.
Looking ahead, Guo mentioned plans to invest in the profitable LCD panel business by introducing the latest equipment and technology, aiming to regain leadership in the industry. Regarding Sharp’s home appliance division, he noted that while Hon Hai does not currently hold a brand in this area, strengthening Sharp’s presence could help increase market share.
There is growing hope within Sharp that if the acquisition goes through, the company will see increased investment in its core operations, which have been a source of financial instability.
Originally, Sharp had planned to accept funding from a government-backed joint venture led by the Japanese Industrial Innovation Agency. However, it now seems more inclined to support the Hon Hai acquisition plan instead. A board meeting on February 4 focused on the Hon Hai proposal, with a decision made to prioritize the negotiations.
Despite some differences in approach, both companies remain engaged. Guo had previously claimed that the agreement included a right to negotiate, but Sharp denied this, stating that no such clause was included. This has created some tension, but Guo remains confident, even saying he wouldn’t mind being rejected a couple of times before reaching a final agreement.
As the process continues, all eyes are on how the negotiations will unfold and whether Sharp can successfully restructure under Hon Hai’s ownership.
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