|Look at that a new Sharp picture for the Blog|
The report also stated that the 5 US Billion dollar amount is double what Sharp had projected in August of 2012. It was also stated that Sharp is looking to generating and operating profit for the time period from October to March.
During lunch to day I had the chance to catch up with fellow blogger Vince McHugh, we were discussing how can Sharp get themselves out of the hole with their massive debt. Plus what company in their right mind would want to buy manufacturing divisions of Sharp that are losing money?
In the news tonight the economic climate seems to worsening in Europe, the US dollar is still losing ground to the Japanese yen, and yet Sharp Corporation debt is staggering! Now, I'm sure they have a plan if everything goes according to plan, but over the last five years it seems that nothing goes according to plan. Just as the US might start eeking out a decent GDP, Europe may be sliding deeper into a recession.
I posted a response on Vince's Blog the other day when the Sharp discussion came up. It's plain and simple:
I’ll go ahead and state my observations. Sharp Corp is mired in debt, profit is non existent, they owe their soul to the Japanese banks, the Japanese banks want to protect their investment and put bank execs with Sharp to protect their interest. Sharps debt is secured with property, factories and other assets. The 3rd quarter results arrive in January 2013. The Asahi Shimbun stated “there is no end in site”. “Ming the Merciless” Terry Gou from Hon Hai walked away, you can compare Terry to Donald Trump . All you read from Sharp is they want consumer electronic business such as smart phones, and displays, NEVER any mention of copiers.
The leak was from the Nikkei, there was never a retraction from that reporter. Total liability is almost 2 trillion yen. Sounds a lot like Kodak.
Here's a few more responses (Vince hope you don't mind):
So…they didn’t contact you directly…didn’t send you a legal letter…tossed up the “we’re a public company…and can’t lie to our shareholders”…all this through a second-hand, third-party…
Nothing unusual here…move along…
I would agree if you started the rumor, but the article that I read was from Nikkei in Japan. They indicated that sharp was looking at a number of options to generate cash which included selling assets such as real-estate holdings as well as their copier division. So I would think that Sharp should be looking to Japan to put a halt to the rumors.
Yes, and here's the report from Rueters today
Where Does Sharp Want to Excel?
In another report from the Yomiuri Shimbun, Sharp seems to be betting the ranch on smart phones and energy saving LCD panels and I believe that's a good bet!
So, if you get a chance go read todays report and keep in mind that there is no mention of the copier/mfp division as a matter of fact they never talk about the copier/mfp division except for that lone report that came from a Nikkei analyst a few months months.
ALSO THERE HAVE BEEN SOME NEW RUMORS ABOUT SHARP, GO THE THE FORUMS AND CHECK THEM OUT, CAN YOU SAY PANASONIC?