Struggling Japanese electronics manufacturer Sharp is reportedly looking to sell off its stake in another consumer electronics company, Pioneer, to raise the funds needed to pay off 200 billion yen (US$2.14 billion) in convertible debt.
Citing unnamed sources, The Japan Times reported Sunday Sharp is looking to dispose of its 9.2 percent stake, or 30 million shares, in the maker of car navigation systems and home electronics to help finance the payment of its debt due this September. Sharp is Pioneer's top shareholder, it added.
