Apple supplier Hon Hai to take 11 percent stake in Sharp

TOKYO Tue Mar 27, 2012 12:30pm BST

1 of 2. Takashi Okuda, who has been named as Sharp Corp's new president, speaks during a news conference in Tokyo March 27, 2012. Taiwan's Hon Hai Precision Industry Co will take an 11 percent stake in Japan's Sharp Corp, the Japanese company said on Tuesday, under a tie-up in LCD production that includes Sharp issuing 66.5 billion yen ($803 million) worth of its shares to four Hon Hai group companies.

Credit: Reuters/Toru Hanai

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TOKYO (Reuters) - Taiwan's Hon Hai Precision Industry Co (2317.TW) will take an 11 percent stake in Japan's Sharp Corp (6753.T), the Japanese company said on Tuesday, under a tie-up in LCD production that includes Sharp issuing 66.5 billion yen ($803 million) worth of its shares to four Hon Hai group companies.

Hon Hai, an Apple (AAPL.O) supplier, will hold a 46.48 percent stake in Japan's main Sakai plant, in western Japan.

($1 = 82.8300 Japanese yen)

(Reporting by Miki Kayaoka; Editing by Edmund Klamann)

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