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Company News >> 30 Billion Yen Investment in 8K and AIOT Sharp Turns Offensive
Sharp announced on June 5 that it will issue new shares through public fundraising and other means. The issuance amount is estimated to be 200 billion yen (about 12 billion yuan) and the use of funds raised will buy back 180 billion yen of preferred stock. .
On June 22, Sharp said that the funds raised through the public capital increase and the third-party quota increase will be up to 216.2 billion yen, of which 30 billion yen will be used to invest in key areas such as 8K and AIOT. Moreover, Sharp estimated that after the implementation of the capital increase, Hon Hai Group's shareholding in Sharp will still exceed half.
China National Grid understands that among the funds raised by Sharp Capital Increase, there will be 185 billion yen used to purchase Sharp's preferred shares (type A stocks) held by Mizuho Bank and Mitsubishi UFJ Bank, and will be cancelled after repurchase; The 30 billion yen will be used as an R&D expense for constructing the 8K ecosystem and expanding the AIoT business by the end of March 2020. If there is any remaining funds, it will be used to repay unsecured corporate bonds.
According to foreign media reports, in addition to handling the Class A preferred shares held by the aforementioned banks, Sharp will also handle some of the preferred shares held by the holding company ESPlatform LP (Group C stocks) organized by Hon Hai Group employees. Sharp pointed out that after the implementation of the capital increase, it is estimated that Hon Hai Group's shareholding in Sharp will decrease, but it will continue to maintain at more than half of the above standard.
According to the securities report released by Sharp, as of March 31, 2018, Hon Hai’s share of Sharp's equity was 26.06%, Foxconn (FarEast) was 18.36%, and Foxconn Technology was 12.96%. SIO International Holdings Limited, the chairman of the chairman of the board of directors of the board of directors, Terry Gou, is 7.34%.
Sharp also stated that currently in the automotive and sensor modules and other business areas, Zhenghe and Hon Hai Group are involved in the establishment of joint ventures and other cooperation possibilities. In the future, they will continue to use the technical advantages and production advantages of Hon Hai Group. With cost advantages, the pursuit of synergies and continued close cooperation.
In fact, at the general meeting of shareholders held at the headquarters of the City of Bengbu in Japan on June 20th, Sharp President Dai Zhengwu once emphasized that Sharp will use the ultra-high definition image technology “8K” and artificial intelligence (AI) fields as the pillars. Globally expand its business scope and strive to achieve growth.
In addition, after the shareholders’ meeting on the 20th, Dai Zhengwu served as the president of Sharp and concurrently served as chairman of the board of directors and fully initiated the selection of the next president. Before the final year 2019 of the current mid-term business plan, he intends to continue as president. On the same day, he also said that Sharp (the end of the medium-term plan) will be responsible for advancing business operations by March 2020.

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