Sharp mortgages iPhone screen factory, Japanese plants and offices
Electronics maker Sharp has mortgaged almost all of its domestic offices and factories in order to stay in business.
The properties were offered as collateral for up to 150 billion yen ($1.92 billion) of credit from Mizuho Financial Group and Mitsubishi UFJ Financial Group, according to Reuters.
Company spokeswoman Miyuki Nakayama told Reuters the offering includes “almost all the business sites owned by Sharp in Japan.”
Sharp operates 11 factories in Japan that make products including display screens, TVs and solar panels. The Kameyama plant in western Japan manufactures screens for Apple…
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