Japan's Sharp rescue may not be such a bright idea

Tokyo

A STATE-BACKED Japanese fund is frontrunner to rescue Sharp Corp, ahead of a rival approach from Apple supplier Foxconn, but industry insiders question whether it can protect the group in the long term amid cut-throat competition.

Innovation Network Corporation of Japan (INCJ), if successful, would represent the third bailout in as many years for Sharp, known for its liquid crystal display (LCD) technology and super-thin screens.