OSAKA -- Sharp plans to request aid from two main lenders, including a 150 billion yen ($1.24 billion) debt-for-equity swap, as it tries to shore up its financial foundation to prepare for much-needed restructuring.
The electronics manufacturer's interest-bearing debt stood at some 1 trillion yen at the end of 2014. Its equity ratio, a measure of fiscal health, comes to just 10% or so. The company plans to write off production equipment in such unprofitable businesses as solar panels, likely widening its fiscal 2015 net loss to more than 100 billion yen from the currently forecast 30 billion yen.
