The perception that it is likely to be urged begins to appear in the marketplace. Advancing it is a backdrop in rapidity from ..enormous amount.. deficit 2 years in a row and the bird clapper until this term (period on March, 2013). progression of the disease of the financial structure
This company connected syndicated loan (syndicated loan) agreement of 360 billion yen with the banking syndicate at the end of September.
The period at the end on June next year. Miyuki Nakayama of the Sharp announcing to public assumes, “The prospect looks up in a present financing in the capital amelioration measure and the syndicated loan chemical composition, etc. by self-help, and strong support posture from the main two lines is clear”.
However, debenture (CB) next September with the unsecured convertible bond type new stock reservation right issued by the liquid crystal investment purpose in 09 200 billion yen receives the maturity. It has a rough going the capital tie-up condition review negotiation of Taiwan and Bishiyagoumino precise industry by the Sharp fall in stock prices according to the deterioration in earnings. The equity ratio at the end on September this year is 9.9%.
Representative director Fumiaki Sato of an industry advisory creation that is the advice company of the electrical industry
Sharp says, “Hands of what loans should clap in about one year in the future” in financial affairs progression of the disease. It is assumed that there may be “Support of a governmental fund and merger with another private business” (the industrial innovation mechanism and the enterprise regeneration support mechanism) on that, too.
“Procurement by the public offering is impossible in the current stock price” and it specifies it ..the assumption of the Yasuo Nakane analyst of a German bond, and “The prospect of the procurement of the Convertible Bond redemption fund doesn’t look up” the capital increase… It is described, “There is what a governmental fund supports an economic rationality to pulling out as a possibility”.
There is an example of the procurement forehead’s decreasing suddenly by the sliding stock price after it announces though the new stock that hit 34% of the total that Hitachi has issued in 09 was issued in the capital increase through public offering of the domestic electric machine manufacturer.
An actual offer price was 230 yen though 299 yen per 1 strain was made assumption at first. The closing price on the second of the Sharp share is 165 yen.
– Precedent of public support
The rating firm in Europe and America is lowering the long-run rating to an ineligible investment, and procurement from the debenture marketplace is also severe.
President Takashi Okuda also stressed in the settlement of accounts interview during a day, “First of all, the business recovery is necessary though the necessity of capital injection was recognized”.
SONY, Toshiba, and Hitachi in last year consolidate the medium or small sized liquid crystal panel business, and the innovation mechanism is 200 billion yen when the Japan display is established and a purchase lingua of 70% in capital contribution Shite as for the share. It is scheduled to invest in semiconductor major Lnesaserectoronics of the unprofitable operation by the government and the people cooperation.
The regeneration support mechanism supports failing Japan Airlines and Wilcom, etc.The lingua of the listing ..again.. was received in September Japan Airlines, all Wataru shares of the had day were sold off, and the double capital of the capital contribution lingua 350 billion yen was obtained.
The comment is not obtained from both mechanisms for the possibility of the Sharp support.
The comment of the individual firm was avoided though “It was never necessary as the industrial policy nor always gazed” also of Trade and Industry Minister Yukio Edano was an electrical industry in the interview after the Cabinet Council on the second.
The Toyosaki Sadahisa analyst of the architect grandeur design is specified that each electric machine company keeps competing domestically in South Korea that advanced the industry reorganization in the 1990’s, the difference, and Japan. If you do the redress by public money in the meantime｢The moral hazard occurs. It ..tax.. drips and it contradicts the being throw national interest. ｣It describes.
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