Business / Corporate

Taiwan's Tai Jeng-wu to remain as Sharp chairman until 2021

JIJI

Sharp Corp. Chairman and President Tai Jeng-wu says he will remain chairman of the Japanese electronics firm until fiscal 2021.

Speaking to reporters, Tai said Monday he wants to hand over the post of president if someone suitable for the job appears.

He said he will not be involved in the operations of Hon Hai Precision Industry Co. after returning to the board of the Taiwanese parent of Sharp.

Sharp sees trade tensions between the United States and China affecting some 3.8 percent of its product sales, Tai said. In response, the company plans to transfer production in China to Southeast Asia, he said.

Tai also said Sharp’s products are expected to gain an advantage if Huawei Technologies Co.’s share declines on smartphone and other markets due to U.S. restrictions against the Chinese telecommunications equipment maker.