Company Name: Sharp Corporation Representative: J.W. Tai
President & Chief Executive Officer (Code No. 6753)
Notice Regarding the Transfer of Shares of Sakai Display Products Corporation
Sharp Corporation ("Sharp") announces that it transferred some of its shares (436,000 shares) in Sakai Display Products Corporation, to SIO International Holdings Limited in the amount of 17,170 million yen as of December 28, 2016.
By this transfer, it is expected that 4,629 million yen will be posted as an extraordinary loss in Sharp's non-consolidated results, whereas 234 million yen will be posted as an extraordinary profit in Sharp's consolidated results for the 3rd quarter in its financial year ending March 2017. (The difference between the non-consolidated results and consolidated results is due to the difference in the book value of the shares in each result. Please note that fractions of less than 1 million yen in Sharp's non-consolidated results are rounded down, and fractions of less than 1 million yen in Sharp's consolidated results are rounded off.)
In addition, by this transfer, Sharp's voting rights holding percentage in Sakai Display Products Corporation will be 26.71%; however, Sakai Display Products Corporation still remains an affiliated company of Sharp (equity method affiliate).
(Outline of SIO International Holdings Limited)
(i)
Name
SIO International Holdings Limited
(ii)
Location
Floor 4, Willow House, Cricket Square, P O Box 2804, Grand Cayman KY1-1112, Cayman Islands
(iii)
Details of Business
Holding company
(Outline of Sakai Display Products Corporation)
(i)
Name
Sakai Display Products Corporation
(ii)
Location
1 Takumi-cho, Sakai-ku, Sakai-shi, Osaka
(iii)
Details of Business
Development, manufacture, distribution, export and import of liquid crystal displays and other displays
End
Sharp Corporation published this content on 29 December 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 December 2016 00:27:06 UTC.
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Sharp Corp is a Japan-based company mainly engaged in the manufacture and sale of telecommunications equipment, electrical equipment and components. It operates through five business segments. The Smart Life & Energy segment provides refrigerators, superheated steam ovens, microwave ovens, small cooking appliances, air conditioners, washing machines, vacuum cleaners, air purifiers, fans, dehumidifiers, humidifiers, electric heating equipment, plasma cluster ion generators, and hairdressing equipment. The Smart Office segment provides digital multifunction devices, information displays, and business projectors. The Universal Network segment provides televisions, Blu-ray Disc recorders, audio equipment, cell phones, tablet terminals, routers. The Display Devices segment provides display modules, in-vehicle cameras. The Electronic Devices segment provides camera modules, sensor modules, opto sensors, opto-devices, wafer foundries, semiconductor lasers.
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