New Delhi: Japan's loss-making Sharp Corporation is exploring options including stake sale in its Indian arm as part of its turnaround strategy. The board of Sharp India Limited will meet on December 12, 2015 to consider allowing the parent and potential buyers to conduct due diligence on its operations, the company said in a BSE filing.
It further said Japanese parent Sharp Corporation, the majority shareholder, 'is exploring various options and strategic alternatives, including sale of its shareholding in the company to potential buyers'.
- Sharp had reportedly registered Yen 50 billion operating loss during the first half of 2015 on account of loss-making LCD business unit.
- In India, Sharp sells TV panels, refrigerators, Acs, washing machine, vacuum cleaners etc in the home products category.
- In business products category, it sells multifunction printers, projector, solar Photovoltaic and touch screen etc.
- Sharp India had a revenue of Rs 189.04 crore in FY 2014-15.
Latest News from Business News Desk