Sharp Corp. is planning to ask its major creditor banks for ¥150 billion in additional assistance, in line with a rehabilitation plan under a government-backed corporation turnaround fund, sources said.
Under the restructuring plan of the Innovation Network Corp. of Japan, the struggling electronics manufacturer will spin off its loss-making liquid crystal display business.
The fund will invest some ¥200 billion in Sharp to secure a majority stake with the aim of taking the lead in its rehabilitation, the sources said Monday.