Wednesday, 6th March 2013
In General Japan News,
Sharp's shares rise after Samsung deal announced
Japanese electronics maker Sharp will benefit from Samsung Electronic's announcement that it will be purchasing a three per cent share in the company.
That is according to Gerhard Fasol of Eurotechnology Japan, in Tokyo, who suggested that Sharp's fortunes could be reversed by the sale.
Mr Fasol said: "For Sharp, this is good news from all fronts. Not only can Samsung help Sharp smooth its production and operations, it can also become a key customer of Sharp's products, especially flat screens."
Samsung's investment in Sharp worth $110 million (GB£72 million) will make the company one of the leading shareholder's in the Japanese firm.
In December 2012, Qualcomm Inc announced that it would be investing $120 million (GB£79.5 million) in Sharp.
Following initial reports of the deal between Sharp and Samsung, shares of the Japanese electronics giant shot up by some 17 per cent. In the end the Asian markets closed 14 per cent up.
Written by Susan Ballion
Related news stories:
Samsung Galaxy Note 7 phones banned on Japanese airlines (17th October 2016)
Kawasaki Frontale to face Gamba Osaka after home defeat (20th May 2009)