VENTURE CAPITAL POST

Japan state-backed fund is keen on acquiring stakes in Sharp Corporation for Yen 200 billion ($1.63 billion). Sharp Corp recorded Yen 50 billion operating loss for the first half of 2015. The LCD business unit of Sharp Corp is a major contributor to the losses. Sharp is planning to spin off LCD business unit and later it may consider stake selling, according to media reports.

Taiwan's Hon Hai Precision Industry Co has offered bid to acquire the LCD business of Sharp Corporation. However, the bidding details were not revealed. Without confirming on its plans to offload LCD business or received any bid offer, Sharp Corp continues to explore several options for reviving the trouble-prone liquid panel display business. Sharp has also asked Apple Inc for funding support. Sharp Corp has sought a $1.9-billion revival package from the banks and decided to slash 5,000 jobs as part of the cost-cutting measures. The intense competition in LCD screens for smartphones from Asian companies is taking a toll on Sharp Corp's business.

Japan's Sharp Corp said it had secured a $1.9 billion bailout, its second major bank-led rescue in three years, after falling deep into the red as its smartphone display business was battered by competition from Asian rivals.

Japan's Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discussions said.

South Korea's Samsung Electronics Co Ltd launched a lineup of high-tech premium TVs on Tuesday, calling on its original mainstay devices to help avert a second consecutive year of profit decline.