FLAT PANELS:Hon Hai’s chairman boosted his stake in Sakai Display Products to enhance the company’s competitive edge and take on South Korean giant Samsung
Date: Dec 30, 2016
By: Staff writer, with CNA
Hon Hai Precision Industry Co (鴻海精密) chairman Terry Gou (郭台銘) has raised his stake in Sakai Display Products Corp (SDP) — which he and Sharp Corp of Japan jointly own — to more than 50 percent.
In a statement released yesterday by Sharp — in which Hon Hai holds a 66 percent stake — the Japanese electronics maker said it had sold 436,000 Sakai flat-panel plant shares to SIO International Holdings Ltd, owned by Gou, for ￥17.17 billion (US$147 million).
After the transaction, Gou’s stake in the Sakai plant via SIO rose to 53.05 percent from 37.61 percent, while Sharp’s stake in the flat-panel production site fell to 26.71 percent.
Sharp said it would book a profit of about ￥234 million from the disposal of the stake in the Sakai plant during the October-to-December period. [FUILL STORY]