Sharp Public Offering Falls Short As Fears Of Future Weigh

wochit business
October 07, 2013 AT 5:08 AM
By Sophie Knight TOKYO (Reuters) - Sharp Corp is set to raise 119 billion yen ($1.23 billion) in a public share offering, 20 percent less than targeted after concerns about competition for its display and solar panel businesses drove down its shares ahead of the issue. The shortfall in funds could curb Sharp's efforts to turn around its operations which, along with fellow Japanese consumer electronics companies such as Panasonic Corp and Toshiba Corp, have suffered from a slump in TV sales as foreign rivals encroached on their market. ...