Taiwan’s Foxconn Technology Group known as Apple product and iPhone assembler in China completed today a deal to acquire Japanese electronics maker Sharp Corp. for nearly $3.8 billion deal after $900 million discount on the initial offer, the deal is approved by Chinese regulators (China's anti-monopoly authorities).
Sharp mostly know by hi-tech screen and professional LCD manufacturing for customer electronic appliance, professional monitors and also makes LCD screen for most know smart phones brands like iPhone and apple products, this deal will benefit Foxconn from competitive LCD screen pricing specially with apple products assembly.
Sharp Shares (TYO:6753) raised up 19% today and also Japanese Nikkei 225 index in Tokyo closed 1.1% higher at 16,919.92.
The deal raised some questions and worries about Japanese companies’ future competitively and market performances as it’s the first largest Japanese companies with 100 year history acquisition by a foreign company.
About Foxconn Technology Group
Hon Hai Precision Industry Co., Ltd., trading as Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturing company headquartered in New Taipei City, Taiwan. Foxconn is the world's largest contract electronics manufacturer, and the third-largest information technology company by revenue.
About Sharp Corporation
Sharp Corporation (シャープ株式会社) is a Japanese multinational corporation that designs and manufactures electronic products, headquartered in Sakai-ku, Sakai. Since 2016 it has been an integral part of Taiwan-based Foxconn Group. Sharp employs more than 50,000 people worldwide. The company was founded in September 1912 in Tokyo and takes its name from one of its founder’s first inventions, the Ever-Sharp mechanical pencil, which was invented by Tokuji Hayakawa in 1915.
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