Sharp, the Japanese electronic company which will proceed with acquisition by Hon Hai Precision Industry of Taiwan to be delisted from Tokyo Stock Exchange?
The company has announced the earning report for the last quarter.
This article is originally referred from iForex News.
Sharp, a Japanese electronic company who will be taken over by Hon Hai Precision Industry of Taiwan, released its earnings report for April-June quarter after the local stock market closed on last Friday, July 29.
According to the report, revenue for April-June is 423 billion yen ($4.15 billion), down 31% year-over-year. And net loss for Q2 is 27.4 billion yen ($269 million).
Its liabilities still exceed its assets at the end of June. The exceeding amount was 31.2 billion yen ($306 million) at the end of March, but has surged to 75 billion yen ($735 million) by the end of June.
According to the rules of Tokyo Stock Exchange, if liabilities exceed assets for 2 years in a row, the company would be delisted. Sharp shares will be delisted unless its liabilities become less than assets by the end of March 2017.
Original Source: iForex News