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Sharp to sell solar battery plant in Osaka

08-16-2012 12:22 BJT

OSAKA, Aug. 16 (Xinhua) -- Japanese electronics manufacturer Sharp Corporation plans to sell its key solar battery plant in Osaka Prefecture as part of the efforts to restructure the company, a local newspaper said on Thursday.

According to the report, the company entered into negotiations with an overseas electronics maker over the sale of its plant in Sakai City of the prefecture. The plant is producing thin-film solar cells for mega solar power stations with an annual output capacity of 160,000 kilowatts.

The report also said the Osaka-based electronics company has started the process of selling prime real estate, including its Tokyo branch office building, in the Tokyo metropolitan area.

The maker is expecting a more than 100 billion yen (about 1.27 billion U.S. dollars) improvement on its balance sheet from a series of the planned sales, the report added.

The report came as Hon Hai Precision Industry Co., Sharp's partner in Taiwan, pushes to change the terms of its agreement to take a 10-percent stake in the Japanese firm, whose shares plunged this month after it announced a huge loss.



Editor:James |Source: Xinhua

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