Sharp Display will remain independent

keep-calm-and-stay-sharp-5Sharp has given up on an idea which would see it merging its troubled display business with rival Japan Display.

Apparently the company has a technological advantage over its competitors so it makes sense to keep going.

Norikazu Hohshi, the head of Sharp’s device business ,told reporters at a briefing that looking at its ¬†overall display business he believed it should be on its own.

Sharp is due to post its third annual net loss in four years, hurt by aggressive competition from its rival and weaker-than-expected Chinese smartphone demand.

That is not to say that Sharp has not got a cunning plan to pull its nadgers out of the fire. Apparently executives are compiling a new business plan and considering investing in new nadger pulling equipment.

Chief Executive Kozo Takahashi met with officials from its main lenders Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ last Thursday, although he did not request specific amounts or make promises about restructuring.

The difficulty is that Sharp is really short of cash and may need help.

The banks agreed in September 2012 to rescue Sharp with loans and credit lines worth 360 billion yen, or $3 billion at today’s exchange rates, in exchange for promises to return to the black by this year.

Sharp then exited the European TV market and closed solar-panel businesses in Europe and the United States. However things do not appear to have become any better,