Sharp surges 14%; brings 3-day gain to 25%

Tokyo

SHARP Corp climbed a third day in Tokyo after reports the debt-strapped display maker's main lenders were considering forgiving loans to facilitate an investment by a government-backed investment fund.

The shares surged 14 per cent to close at 150 yen, bringing their three-day gain to 25 per cent, the most since May 2013. The stock briefly soared on Tuesday by as much as 36 per cent, the most since 1974, with trading volume more than eight times the three-month average. Mizuho Financial Group Inc and Mitsubishi UFJ Financial Group Inc may forgive loans to secure an investment from Innovation Network Corporation of Japan, Kyodo reported without attribution on Friday.