Sharp to favour INCJ’s rescue plan over Foxconn offer

TOKYO: Sharp Corp is leaning toward accepting a rescue by government-backed Innovation Network Corp. of Japan over a potentially larger offer from Taiwan’s Foxconn Technology Group, according to two people familiar with the talks.

A deal with INCJ would allow Sharp to keep its technology within Japan and to cooperate more closely with domestic companies, said the people, who asked not to be named because the matter is private. The fund hasn’t yet made an official offer and there is no guarantee a definitive agreement will be reached, the people familiar said.