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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sharp Corporation    6753   JP3359600008

SHARP CORPORATION

(6753)
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Notice Regarding the Transfer of Shares of Sakai Display Products Corporation (PDF:129KB)

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12/28/2016 | 08:27pm EDT

[Translation]

December 29, 2016

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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Net income 2021 44 829 M 429 M 429 M
Net Debt 2021 516 B 4 934 M 4 934 M
P/E ratio 2021 16,3x
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Mean consensus UNDERPERFORM
Number of Analysts 11
Average target price 1 138,18 JPY
Last Close Price 1 279,00 JPY
Spread / Highest target 31,4%
Spread / Average Target -11,0%
Spread / Lowest Target -54,7%
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