SHCAY
Sharp Corp. ADR  |  OTCPK - Current
52wk high:4.49
52wk low:0.86
EPS:-1.09
PE (ttm):-
Div Rate (ttm):-
Yield (ttm):-
Market Cap:$17.84B
Volume:
  • Fri, May 26, 10:46 AM
    • LCD maker Sharp Corp (OTCPK:SHCAF, OTCPK:SHCAY) confirms for the first time that the company is involved in the bidding process for Toshiba’s (OTCPK:TOSBF, OTCPK:TOSYY) sought-after chip unit. Sharp will partner with parent company Foxconn (OTC:FXCOF, OTC:HNHAF) for the bid but has not disclosed any financial details.
    • The company forecast a full-year net profit of ¥59B ($530M) up from ¥24.9B last year and beating the consensus estimate of ¥41.9B Sharp hopes to achieve an operating profit of ¥150B by the fiscal year ending in March 2020.
    • Sharp hasn’t reported in net profit in four years but has undergone restructuring in the wake of Foxconn’s $3.8B acquisition last year. The return to profit will allow Sharp to move forward with more growth investments similar to the recent $1B investment in SoftBank’s Vision Fund.
    • Sharp shares are up 2.7%.
    • Toshiba shares are down 0.98%.
    Fri, May 26, 10:46 AM
  • Tue, May 16, 9:46 AM
    • Sharp (OTCPK:SHCAY) may go in with its parent Foxconn (OTC:FXCOF, OTC:HNHAF) on a joint bid for the chip unit at Toshiba (OTCPK:TOSYY), Nikkei reports, a move that could ease fears about a foreign purchase of the significant memory business.
    • Sharp could buy 10-20% of Toshiba Memory, and Foxconn is reportedly sounding out Apple and other U.S. companies for investments.
    • The goal would be an alliance that crosses borders to skirt a Japanese law restricting technology flows that affect national security.
    • Toshiba shares are 9.3% lower in U.S. trading. Japan's government is urging peace between Toshiba and Western Digital (NYSE:WDC), which is pushing for arbitration in seeking the chip unit. "It's very important for Toshiba and Western Digital to cooperate," said Trade Minister Hiroshige Seko.
    Tue, May 16, 9:46 AM | 3 Comments
  • Wed, Feb. 8, 3:34 AM
    • Sharp (OTCPK:SHCAY) may start building a $7B American plant in the first half of 2017, Reuters reports, taking the lead on a project initially outlined by its Taiwanese parent Foxconn (OTC:FXCOF).
    • The news comes as Japanese Prime Minister Shinzo Abe prepares to travel to the U.S to meet with President Trump, where he will likely unveil investments to create as many as 700,000 American jobs.
    Wed, Feb. 8, 3:34 AM | 1 Comment
  • Sun, Jan. 22, 10:04 AM
    • Foxconn (OTC:FXCOF) and its Japanese subsidiary Sharp (OTCPK:SHCAF) are considering setting up an display-making plant in the U.S. in an investment that would exceed $7B, CEO Terry Gou confirmed on Sunday.
    • The plans, which come after President Trump's "America First" inauguration speech, still depend on many factors such as investment conditions that would have to be negotiated at the state and federal levels.
    • Previously: Foxconn, Sharp weigh LCD plant in U.S. (Jan. 13 2017)
    Sun, Jan. 22, 10:04 AM | 38 Comments
  • Dec. 30, 2016, 6:53 AM
    • After announcing its 40,000 robot workforce in October, Foxconn (OTC:FXCOF) is automating production at its factories in China in three phases, aiming to fully automate entire factories eventually.
    • Foxconn also announced plans with and Sharp (OTCPK:SHCAY) to invest 61B yuan ($8.8B) to build a new Chinese plant that will produce liquid-crystal displays.
    Dec. 30, 2016, 6:53 AM
  • Sep. 18, 2016, 8:51 AM
    • As it grapples with a massive global smartphone recall that is estimated to cost more than $1B, Samsung Electronics (OTC:SSNLF) is moving swiftly to sell stakes in other tech companies to raise cash.
    • The Korean firm said Sunday it disposed of shares in ASML, Seagate (NASDAQ:STX), Rambus (NASDAQ:RMBS) and Sharp (OTCPK:SHCAY).
    • Total proceeds from the sales exceeded 1T won ($889M).
    Sep. 18, 2016, 8:51 AM | 7 Comments
  • Aug. 29, 2016, 2:32 AM
    • Sharp (OTCPK:SHCAY) is hoping to team up with its domestic rival Japan Display (OTC:JPDYY) in OLED displays to catch up with South Korean manufacturers.
    • "Let's gather all Japanese talents in liquid crystal displays, develop (the OLED technology) and jointly manage," Sharp's new CEO, Tai Jeng-wu, told the Nikkei in an interview.
    Aug. 29, 2016, 2:32 AM
  • Aug. 15, 2016, 6:46 AM
    • M&A activity is kicking off the headlines this week with an array of deals expected to be announced shortly.
    • Among them: Mid-America Apartment (NYSE:MAA)- Post Properties (NYSE:PPS), Sharp (OTCPK:SHCAY)- Foxconn (OTC:FXCOF), Honeywell (NYSE:HON)- JDA Software, Xylem (NYSE:XYL)- Sensus USA and KKR- Entertainment One (OTC:ENTMF).
    • The technology sector is still leading the global M&A market in 2016, but the real estate segment is not far behind.
    • Will 2016 outpace 2015's record in terms of acquisitions and deal value?
    Aug. 15, 2016, 6:46 AM | 3 Comments
  • Aug. 15, 2016, 2:37 AM
    • Building on Friday's gains, Sharp (OTCPK:SHCAY) started the week with a 10% advance after the company said Foxconn (OTC:FXCOF) completed its $3.8B takeover.
    • "With the risk of insolvency removed, the shares have a strong upward momentum," said Hideki Yasuda, an analyst at Ace Research Institute. "How far they climb will depend on how Foxconn will choose to restructure Sharp."
    • The company also received a $3B commitment line from its lenders.
    Aug. 15, 2016, 2:37 AM
  • Aug. 12, 2016, 2:51 AM
    • Shares in Sharp (OTCPK:SHCAY) surged almost a fifth overnight after Chinese antitrust authorities approved Foxconn's (OTC:FXCOF) $3.8B takeover of the struggling Japanese display maker.
    • The green light from China was the final hurdle to clear the acquisition, which will see Tai Jeng-wu, a close aide of Foxconn founder Terry Gou, replace Sharp's current chief executive Kozo Takahashi.
    Aug. 12, 2016, 2:51 AM
  • Aug. 11, 2016, 12:31 PM
    • Anti-monopoly regulators in China have allowed Foxconn (OTC:FXCOF) to proceed with taking a 63.6% stake in Japanese company Sharp (OTCPK:SHCAY). Approval of the deal in Taiwan was granted back in June.
    • The companies "will now move to complete the transaction in accordance with our agreement as soon as possible."
    • Foxconn is a major Apple supplier and is looking to fortify its position through gaining access to Sharp's sophisticated panel technology.
    Aug. 11, 2016, 12:31 PM
  • Jun. 1, 2016, 3:55 AM
    • Taiwanese regulators have cleared Foxconn's (OTC:FXCOF) $3.5B purchase of a 63.6% stake in Sharp (OTCPK:SHCAY), paving the way for a transformation at the Japanese display maker.
    • Earlier this month, Foxconn founder Terry Gou said there would have to be layoffs to turn around the ailing company, but pledged that wages would rise and profit-sharing would again be the norm.
    Jun. 1, 2016, 3:55 AM | 1 Comment
  • May 25, 2016, 7:46 AM
    • Foxconn (OTC:FXCOF) says it will not sell Sharp's (OTCPK:SHCAY) solar power unit, amid concerns from business partners over a possible closure of the struggling division.
    • "We want to let you know that we are totally committed to this business," the company said in a letter.
    • Foxconn plans to seal a $3.5B deal by the end of June that would give it a two-thirds stake in Sharp.
    May 25, 2016, 7:46 AM
  • May 13, 2016, 3:31 AM
    • Looking to steer a big turnaround, Sharp (OTCPK:SHCAY) has named the vice-chairman of Taiwan's Foxconn (OTC:FXCOF) as its new chief executive.
    • Tai Jeng-Wu, a close aide of Foxconn's founder Terry Gou, assisted in the company's negotiations and eventual purchase of Sharp for $3.5B in March.
    • With his new role, Tai will be the first outsider to run the century-old Japanese group and one of nine new board members.
    May 13, 2016, 3:31 AM
  • Mar. 30, 2016, 5:20 AM
    • Capping weeks of drama and intense negotiations, Foxconn Technology (OTC:FXCOF) has finally clinched a deal to take over Sharp (OTCPK:SHCAY), but with a lower price tag than their original deal.
    • The Taiwanese firm will pay about $3.5B for a two-thirds controlling stake in the embattled Japanese company, nearly $900M less than its initial offer.
    • Sources have also told the Yomiuri newspaper that Foxconn is planning to overhaul Sharp's management including replacing its CEO.
    • Previously: Foxconn to agree on Sharp takeover, overhaul management (Mar. 30 2016)
    Mar. 30, 2016, 5:20 AM | 16 Comments
  • Mar. 30, 2016, 3:11 AM
    • Foxconn (OTC:FXCOF) is set to agree on deal to acquire Sharp (OTCPK:SHCAY) today, gaining a big discount to its original offer after a month of wrangling about potential liabilities.
    • According to Reuters, the Taiwanese firm is likely to cut its initial ¥489B ($4.3B) offer for a two-thirds stake by about ¥100B.
    • Sources also told the Yomiuri newspaper that Foxconn is planning to overhaul Sharp's management including replacing its CEO.
    • Previously: Foxconn-Sharp deal price likely to fall by more than $2B (Mar. 29 2016)
    Mar. 30, 2016, 3:11 AM