March 28, 2012 / 2:28 AM / 6 years ago

Sharp to announce deal with Sony on Sakai plant

TOKYO (Reuters) - Sharp Corp, which is in a partnership with Taiwan’s Hon Hai Precision Industry on LCDs, said on Wednesday it will announce an agreement with Sony Corp at 11 a.m. (0200 GMT) on its main Sakai plant in Osaka.

Takashi Okuda, who has been named as Sharp Corp's new president, speaks during a news conference in Tokyo March 27, 2012. REUTERS/Toru Hanai

Sharp said on Tuesday it would sell a 46.48 percent stake in the Sakai plant to Hon Hai. Sony owns approximately 7 percent of Sharp Display Products Corp, which runs the Sakai plant.

Reporting by Mayumi Negishi; Editing by Michael Watson

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