Sharp Corporation (TSE:6753) agreed to acquire remaining 80% stake in Sakai Display Products Corporation from World Praise Limited on for ¥41.7 billion March 3, 2022. Under the terms, Sharp Corporation will issue 11.45 shares for each shares of Sakai Display Products. For the fiscal year ended December 2021, Sakai Display Products reported net worth of ¥20.841 billion, total assets of ¥248.845 billion, sales of ¥229.962 billion, Operating income of ¥9.33 billion and Net income of ¥6.961 billion.

The deal is approved by the competition authorities, and remains subject to shareholders of Sharp Corporation. The transaction is expected to close on June 30, 2022. DC Advisory acted as financial advisor to Sharp Corporation (TSE:6753).