As reported earlier, at least one prominent hedge fund manager, Dan Loeb, is very bullish on Sony (or at least has played his cards well enough to buy the stock 50% lower and is using today's ramp to offload to unwitting momentum chasers as he did with Herbalife). Whether he is merely using the opportunity to earn some activism brownie points on the background of the overall levitation of the Japanese stock market, or is genuinely convinced there is upside for Sony remains to be seen.
Japanese electronics giant Sharp on Tuesday announced a tie-up with Taiwan's Hon Hai Precision as part of an liquid crystal display (LCD) panel tie-up as it looks to reverse recent losses.Under the deal Sharp will sell 121 million new shares worth $808 million to Hon Hai, which will also take half of its 93 percent interest in a huge LCD plant in western Japan.Hon Hai will buy half the panels produced at the factory in Sakai, Sharp said, in a partnership aimed at creating stable demand for the panels, which are used in televisions. The plant has struggled amid weak demand.
Three major Asian manufacturers have agreed to pay fines of $571 million to US states as part of the ongoing case on price-fixing of LCD displays for electronic devices, officials said Thursday.The settlements were reach with Japan's Toshiba Corporation, AU Optronics of Taiwan and LG of South Korea, according to the New York state attorney general's office.The case is part of a long-running probe in the United States over a scheme to boost prices for liquid crystal display (LCD) screens used in televisions, computer monitors, and laptops.
Toshiba said Thursday it has stopped making televisions in Japan, citing slow domestic demand as falling prices, fierce global competition and a strong yen pressure the country's electronics makers.The IT-and-engineering conglomerate shuttered production lines at its last remaining domestic TV plant in Fukaya, near Tokyo, at the end of March, a company spokesman told AFP.
TOKYO (Reuters) - Sharp Corp maintained its LCD TV sales forecast at 8 million televisions on Thursday even as the Japanese TV maker deals with a shrinking home market and increased industry competition. But the consumer electronics maker cut its estimate for liquid crystal display panel sales in the year to next March to 880 billion yen ($11.01 billion) from an earlier projection for 900 billion yen. ($1 = 79.9300 Japanese yen) (Reporting by Tim Kelly; Writing by James Topham; Editing by Michael Watson)
South Korea's Samsung Electronics said Thursday it had cut around 10 percent of senior management jobs in its flat panel division in an effort to restructure the loss-making business.The world's biggest maker of memory chips and flat-screen televisions said the move was aimed at helping it strengthen competitiveness in its liquid crystal display (LCD) unit.Memory chip and display panel makers have been hit by sluggish demand for most consumer electronics goods in developed nations due to the uncertain economic outlook.
Spending on health, schools and international aid will continue to be given protection.
Ministers are preparing for the spending review to be held on 26 June, reports The BBC.
Chancellor George Osborne announced in last week’s Budget speech that he wanted to cut another £11.5bn from public spending.
TOKYO (Reuters) - Japan's Toshiba Corp said on Monday that it will join the Blu-ray Disc Association -- its former enemy in a bitter format war -- to make blu-ray players by year-end to tap demand for high-definition home movies.