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Japanese Firm Sharp Undergoes Liquidity Crisis

Written: 2012-08-16 13:59:49Updated: 2012-08-16 17:14:01

Japanese electronics company Sharp is toiling to devise measures to overcome a liquidity crisis.

Japan’s newspaper the Yomiuri Shimbun reports that the Japanese electronics giant plans to quickly sell a solar cell plant in Osaka and other buildings in the capital area.

Amid the crisis, the stock price of Sharp fell to a 38-year-low of 169 yen per share on the Tokyo bourse on Wednesday.

Taiwanese electronics manufacturer, Hon Hai Precision Industry, which agreed to keep Sharp afloat through a capital alliance, is demanding that the Japanese company sell its stocks cheaper, citing the plunging stock prices of the company.

Hon Hai announced in May this year that it would buy a stake in Sharp.

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