Sharp may withdraw solar panel unit from Europe, US

IN TROUBLE: The maker of Aquos televisions may pull its solar panel business out of Europe and the United States to shrink the solar panel business as part of a business contingency plan. — Reuters

TOKYO: Japan’s Sharp Corp may pull its solar panel business out of Europe and the United States and as the cash-strapped company looks for ways to withdraw from money-losing businesses and cut costs, two sources told Reuters.

The proposal to shrink the solar panel business is part of a business contingency plan the maker of Aquos televisions has submitted to banks in a bid to secure loans it needs to stay in business, the sources said on condition they were not identified.