• Kyodo

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Taiwan’s Hon Hai Precision Industry Co. has proposed buying Sharp Corp. for around ¥300 billion on the condition that the struggling Japanese electronics maker’s top management be revamped, sources close to the matter said Friday.

Under the proposal, Hon Hai, the world’s largest contract supplier of electronics products, known for the Foxconn brand, is calling for the Sharp management team, including President Kozo Takahashi, to step down, and for Sharp’s new leader to be someone from its group, the sources said.

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