Workers at Sharp's module plant in Wales, which the Japanese group closed in early 2014 as part of its ongoing efforts to restructure its global PV business. Photo: Sharp

Sharp posts $927m net loss, signals potential Foxconn deal

Sharp — which this week posted a ¥108.3bn ($927m) net loss for the first nine months of the current fiscal year, down 5.6% from the preceding year — reportedly favours a a $5.9bn takeover bid by Taiwanese electronics manufacturer Foxconn over a similar offer from Innovation Network Corp. of Japan (INCJ).

5 February 2016 1:46 GMT Updated 28 September 2016 9:19 GMT

By Brian Publicover in Tokyo

The news, first reported by Japanese broadcaster NHK, runs counter to initial expectations that the Osaka-based electronics group would prefer state-backed INCJ’s offer, which The Nikkei newspaper has said would include a ¥300bn cash injection, a massive restructuring push and a potential merger with thin-film PV specialist Solar Frontier.

Tokyo-based Solar Frontier, a subsidiary of Showa Shell, has declined to comment directly on the matter.

Although

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