Sharp may spin off LCD unit, seek investment from govt-backed fund

TOKYO: Loss-making Japanese electronics maker Sharp Corp may spin off its LCD panel business and seek funding for it from the government-backed Innovation Network Corp of Japan (INCJ), a source familiar with the plan said.

The Nikkei business daily earlier reported that the LCD unit, which supplies displays to smartphone and tablet manufacturers, will be spun off in the current fiscal year and that INCJ could invest 100 billion yen in the new entity.