TOKYO (Reuters) – Shares of Sharp Corp, the Japanese electronics maker owned by Taiwan’s Foxconn, tumbled 7% on Friday after it reported a $1.9 billion loss on write-downs of its panel display business and other assets.
Sharp said it took a hit of 220 billion yen ($1.6 billion) as it wrote down the value of building and machinery in both its LCD and OLED display businesses in Japan, and other assets. Shares were down 7% at 921 yen.
($1 = 135.0500 yen)
(Reporting by David Dolan; Editing by Jacqueline Wong)
