Asia Express - Display
Foxconn to Buy Majority Shares in SDP
December 30, 2016

Foxconn plans to increase investment in SDP (Sakai Display Products), its LCD panel joint venture with Sharp, by 52.1 billion yen (US$446 million; US$1=116.8 yen), reported Nikkei on December 30. The company will acquire 436,000 share of SDP from Sharp for around 17.2 billion yen (US$147 million), turning SDP into a subsidiary. Following the transaction, Sharp's stake in SDP will decrease to 26.71%. In addition, Taiwan's Investment Commission has approved an application filed by Foxconn Chairman Terry Gou's son, Gou Shou-cheng, to spend an additional 34.97 billion yen (US$299.4 million) to engage in flat-panel marketing for the Sakai plant.