Japan's Sharp secures US$1.9b bailout
Tokyo
JAPAN'S Sharp Corp said that it had secured a US$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.
Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ will inject a combined 200 billion yen (S$2.2 billion) in a debt-for-equity swap, Sharp said in a statement, a move that will buy it time but is unlikely to allay…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife customers push for legal action
France's Casino supermarket chain to axe up to 3,200 jobs
Prada outshines rivals with 16% revenue lift boosted by Miu Miu
Toymaker Hasbro posts quarterly profit beat, slower sales decline