cens logo

Hon Hai's Guo Remains Confident of Acquiring Sharp of Japan

Feb 02, 2016 | By CENS

news-photoFoxconn Chairman Terry Guo remains confident to acquire Sharp of Japan.

Chairman Terry Guo of the Foxconn Technology Group says he is quite confident of outbidding other suitors to acquire the financially struggling Sharp Corp. of Japan due to his group's most attractive offer. Guo also said the outcome will be disclosed as early as Feb. 5, touting his group is the right choice for Sharp.

According to a Bloomberg report online of Jan. 31, Guo's offer is designed to defeat an alternative deal with Innovation Network Corp. of Japan (INCJ), the Japanese government-backed organization founded in 2009 mainly aiming to boost the competitiveness of Japanese firms by promoting a philosophy of "open innovation" and creating next-generation businesses in promising new technologies by providing capital and managerial support, and would include about 390 billion yen (US$3.22 billion) to buy new shares for a controlling stake. 

Though the Taiwanese company is bidding higher, Sharp is leaning towards a deal with INCJ, which would keep its technology within Japan to enable closer cooperation with domestic companies, people familiar with the matter have said. However Guo expressed confidence in believing the government's word not to interfere in the deal, also refuting reports that INCJ is a government entity and that Foxconn is competing against the government.

Guo, whose group is recognized as Taiwan's biggest business conglomerate in terms of revenue, has dismissed all the bids by Foxconn as reported in the news, which says the group had offered 625 billion yen (US$5.16 billion). Sharp is predicted to further lose 82 billion yen (US$677.68 million) in fiscal 2015 which ends in March 2016, albeit the brand being a household name for TVs in Japan, according to Bloomberg. Sharp also has a debt of 510 billion yen (US$4.21 billion) that is due by March 2016.

To smooth obstacles in the way of his group's acquisition, Guo recently visited ranking officials of the Japanese government and Sharp to offer assurance that the acquisition will not destroy the century-old brand, with its current staff and management to be retained without Foxconn taking over Sharp to result in potential reshuffling of corporate hierarchy.

The press has reported of the slim chance for Foxconn to take over Sharp after the Japanese government has intervened because of its defiance against INCJ through private-public partnership.

Being a seasoned businessman, Guo stresses that Foxconn would never work against the Japanese government and its funded organizations.

Guo says that ranking Japanese government officials have been very politically-correct and diplomatic to tell him that Japan is a developed nation with a government open to business, hence the Japanese government is willing to work and prosper with Taiwan's tech and electronics industries.

Bloomberg reports that although Foxconn's offer is double that from INCJ to buy Sharp, Sharp executives prefer to accept INCJ's offer, also suggesting that creditor banks would again bail out the consumer electronics firm as necessary.  

The media also reports that the Japanese government does not wish to see Sharp falling into the hands of foreign investors, which it fears may use the company's crucial display technologies to compete against Japanese makers.

Industry executives believe Foxconn's display-panel subsidiary, Innolux Corp., stands to considerably strengthen its manufacturing capability with the acquisition of Sharp.


Industry Reports

GIFTO Achieves New Milestone as Number of Wallet Holders Surpasses 500,000 Users

Jun 06, 2018

GIFTO is proud to announce that over 500,000 users now utilise its proprietary e-wallet within its Uplive live streaming app as well as on the Ethereum blockchain. This figure includes over 396,922 users in Uplive who are actively using the wallet to hold their GTO (Gifto tokens) off-chain. These users can send GTO gifts to broadcasters on the platform instantly and with no gas fees. Additionally...


Taiwan's Two-wheeler Sales Expected to Have Regained Growth Momentum in May, after Plunging in Apr.

Jun 01, 2018

After nearly a half year of continued brisk growth, Taiwan’s two-wheeler sales slackened significantly in April, but are expected to have regained growth momentum for a couple of reasons. Based on the statistics of powered two-wheeler licenses issued by Motor Vehicles Office, a governmental unit under Taiwan’s Ministry of Transportation and Communications, sales of new powered two-wheelers dec...


Gogoro Continues Leading Taiwan's E-scooter Market with High Street Cred

May 31, 2018

With ever more competitors jumping on the electric-scooter bandwagon by working on production and promotion of their models in the Taiwanese market, Gogoro Inc., a Taiwan-based, globally prestigious branded supplier of this kind, continues to lead the market segment on the island, thanks partly to its high street cred. Following years of development, Gogoro has scored cumulative e-scooter sale...



Industry In-Focus

Taiwan's Two-wheeler Sales Expected to Have Regained Growth Momentum in May, after Plunging in Apr.

Jun 01, 2018

After nearly a half year of continued brisk growth, Taiwan’s two-wheeler sales slackened significantly in April, but are expected to have regained growth momentum for a couple of reasons. Based on the statistics of powered two-wheeler licenses issued by Motor Vehicles Office, a governmental unit under Taiwan’s Ministry of Transportation and Communications, sales of new powered two-wheelers dec...


Gogoro Continues Leading Taiwan's E-scooter Market with High Street Cred

May 31, 2018

With ever more competitors jumping on the electric-scooter bandwagon by working on production and promotion of their models in the Taiwanese market, Gogoro Inc., a Taiwan-based, globally prestigious branded supplier of this kind, continues to lead the market segment on the island, thanks partly to its high street cred. Following years of development, Gogoro has scored cumulative e-scooter sale...


MPN's Editor-at-large Provides Holistic, In-depth Insights into U.S. Market for Powersports

Industry veteran suggests Taiwanese suppliers establish market presence as priority

May 24, 2018

One of the concurrent events held during the 13th Taiwan International Motorcycle Industry Show (Motorcycle Taiwan 2018), the seminar titled “Turning New U.S. Powersports Business Opportunities” was rounded off with overwhelming acclaim from the audience as a resounding success, mostly thanks to the excellent quality of the lecturers invited, all of whom are seasoned veterans and experts at high ...



Supplier News

GIFTO Achieves New Milestone as Number of Wallet Holders Surpasses 500,000 Users

Jun 06, 2018

GIFTO is proud to announce that over 500,000 users now utilise its proprietary e-wallet within its Uplive live streaming app as well as on the Ethereum blockchain. This figure includes over 396,922 users in Uplive who are actively using the wallet to hold their GTO (Gifto tokens) off-chain. These users can send GTO gifts to broadcasters on the platform instantly and with no gas fees. Additionally...


Jawdong Industrial Co., Ltd.

Crimping tools, wire strippers, ratchet screwdrivers, cable-cutting pliers, tools for electronics and PCs

Jun 05, 2018

Jawdong Industrial Co., Ltd., located in Taiwan’s central county of Taichung, has been engaged in production and development of cable crimping tools as a veteran maker of this kind on the island. With more than 30 years of experience in manufacturing, the company has built a trustworthy name among international buyers, turning out crimping tools, wire strippers, ratchet screwdrivers, high-spee...

JAWDONG INDUSTRIAL CO., LTD.


AIC to Continue Promoting Cutting-edge Server Rack Enclosure and Storage Solutions at This Year's COMPUTEX TAIPEI

Jun 04, 2018

As fruitful results of its unremitting efforts on the development of the market for cloud computing and data centers, AIC Inc., a globally leading provider of server and storage solutions, is going to showcase a slate of the newest server rack enclosures and storage solutions for real-time, high-performance computing during this year’s COMPUTEX TAIPEI. Following years of development, AIC has w...



Insiders' Views

MPN's Editor-at-large Provides Holistic, In-depth Insights into U.S. Market for Powersports

Industry veteran suggests Taiwanese suppliers establish market presence as priority

May 24, 2018

One of the concurrent events held during the 13th Taiwan International Motorcycle Industry Show (Motorcycle Taiwan 2018), the seminar titled “Turning New U.S. Powersports Business Opportunities” was rounded off with overwhelming acclaim from the audience as a resounding success, mostly thanks to the excellent quality of the lecturers invited, all of whom are seasoned veterans and experts at high ...


Exclusive Interview with Editor-in-chief in PSB

He points out building OEM partnership as a savvy strategy for Taiwanese suppliers trying to penetrate U.S.'s powersports market

May 24, 2018

During his visit to the Taiwan International Motorcycle Industry Show 2018 (Motorcycle Taiwan 2018) that ran from April 12 through 15, Dave McMahon, editor-in-chief of Powersports Business (PSB), was interviewed exclusively by CENS to share his views on the current development and outlooks of the powered two-wheeler market in the U.S. While the magazine PSB is one of the most reliable sources ...


New Chairman of Taipei Kitchen Commerce Association Eyes SE Asian Market

Jun 27, 2017

Angus Tseng, Oddo Kitchen president and newly elected chairman of Taipei Kitchen Commerce Association, is aiming to explore more business opportunities in the international market through industrial upgrading. “Kitchenware industry is now facing the issues such as manpower shortage, inadequate brand differentiation, rapid rise of China, and chaotic market competition.” Tseng said. “Therefore,...



Exhibition Highlights

AIC to Continue Promoting Cutting-edge Server Rack Enclosure and Storage Solutions at This Year's COMPUTEX TAIPEI

Jun 04, 2018

As fruitful results of its unremitting efforts on the development of the market for cloud computing and data centers, AIC Inc., a globally leading provider of server and storage solutions, is going to showcase a slate of the newest server rack enclosures and storage solutions for real-time, high-performance computing during this year’s COMPUTEX TAIPEI. Following years of development, AIC has w...


Superman Motor, on Your Side in AM Market

May 31, 2018

Ever since founded in 1988, Superman Motor Industrial Ltd. has been engaged in supplying and exporting auto parts and accessories mainly for the aftermarket (AM) segment. At this year’s Taipei AMPA and AutoTronics Taipei, held April 11-14, Superman Motor was not eclipsed by any of its counterparts at home and from abroad, thanks to its relatively comprehensive product lineup coupled with devo...

SUPERMAN MOTOR INDUSTRIAL LTD.


MPN's Editor-at-large Provides Holistic, In-depth Insights into U.S. Market for Powersports

Industry veteran suggests Taiwanese suppliers establish market presence as priority

May 24, 2018

One of the concurrent events held during the 13th Taiwan International Motorcycle Industry Show (Motorcycle Taiwan 2018), the seminar titled “Turning New U.S. Powersports Business Opportunities” was rounded off with overwhelming acclaim from the audience as a resounding success, mostly thanks to the excellent quality of the lecturers invited, all of whom are seasoned veterans and experts at high ...