Japanese consumer electronics maker Sharp Corp is exploring sale of its holding in the Indian unit, among other options, the unit said in a regulatory filing.
Sharp India Ltd has called a board meeting on December 12 to permit the parent and potential buyers to conduct due diligence on the operations of the company, it said in the statement to the BSE stock exchange.
It did not name any potential buyer. Sharp Corp owned 75 percent of Sharp India as of end-September, according to stock exchange data.
moneycontrol.com said Sharp had reportedly registered Yen 50 billion operating loss during the first half of 2015 on account of loss-making LCD business unit.
In India, Sharp sells TV panels, refrigerators, ACs, washing machine, vacuum cleaners etc in the home products category. Besides, in business products category, it sells multifunction printers, projector, solar Photovoltaic and touch screen etc.
Sharp India had a revenue of Rs 189.04 crore in FY 2014-15. However, in the first two quarters of the ongoing fiscal, the company had posted net loss of Rs 9.99 crore and Rs 2.84 crore respectively.
