Foxconn's head pledges turnaround at Sharp after takeover

The layoffs and property selloffs are a given and probably are known knows.

The big unknown uknown is how badly the books have been cooked. If Toshba could get away with it for 11 years the odds are that Sharp (and Sanyo et.al.) have fiddled too.

Double checking the books has been the reason for the drawn out negotiations on the takeover

Anyway, Ghosn pulled it off at Nissan and Mazda rehabilitated themselves, so I am hopeful that many at Sharp can keep their jobs and the company can come out the other side in good shape

it'll be interesting to see how much deadwood they find

Gerard van Schip

This could be the best thing for Sharp. They really lost their way in recent years.

They lost their way 15 years ago, when I left the company.

Long time writers on here will verify, 10 years ago I was saying on this site that Sharp would be the first of many of Japan Inc to be taken over by the Chinese.

Next prediction at the same time was that SONY will soon follow.

This could be the best thing for Sharp. They really lost their way in recent years.

Foxcomm is not stupid. What they recognize is that there is a great deal of value in the company's technology, no matter how badly the upper management has screwed up. That is what they will benefit from.

Next prediction at the same time was that SONY will soon follow.

With the way Sony has been going and being run in the past decade, I wouldn't be surprised if this actually happens.

I also wonder if they care about the quality of Japanese products going down the spout. Most newer Japanese electronic goods are just filled with cheap components made by other Asian countries and slapped with a Japanese price tag of 30-50% more than its Asian rival company for the same product.

I noticed that many of the major companies just seem to be riding on the brand name reputation they had in the 80s and 90s when most of their products were made in Japan and arguably had stricter QC. Nowadays mostly it's Made in China, Thailand, Malaysia, etc. with the quality being hit-or-miss. Still, you have to pay the more expensive Japanese price for it since, well, it's from a Japanese company. It's no wonder they're losing to their foreign competitors.

This is not the first Japanese corporation to be taken over by a foreign corporation and it won't be the last. I'm wondering if Abe and his 'nomics' cronies are paying any attention to the demise of Japanese corporations or, are they still holding their beliefs that Japanese corporations can survive in international markets that no longer belong to Japan. I also wonder if they care about the quality of Japanese products going down the spout. Most newer Japanese electronic goods are just filled with cheap components made by other Asian countries and slapped with a Japanese price tag of 30-50% more than its Asian rival company for the same product.

@Ed High

What Foxconn will do with Sharp won't get get to me buy another one of their product after is leaves Japanese ownership. I will continue to try and support locally owned and operated companies & products first for local employment - not foreign owned ones that will eventually JUST have the products made in Chinese Sweat factories!

The term "Japanese ownership" means very little these days - and the same rings true with many big brands in their home countries. Foxconn is massive - so massive in fact that every tech company deals with them either directly or indirectly. Apple, Samsung, LG, Sony, Nintendo - you name it. What's more, Terry Gou is a self-made billionaire. From what I've heard, he's tenacious in his dealings and gets what he wants. This kind of tenacity is exactly what Japan Inc. doesn't have. These senior managers have sat on Sharp's bubble-era fortunes for decades, just hanging around to collect their periodical bonuses.

What Terry Gou has achieved in such a relatively short space of time is seriously impressive. Foxconn is the only company in the world that can handle an iPhone launch day. At last count, Foxconn had 80m devices ready (incl. logistics) for the global market. Phenomenal numbers. Questionable labour conditions aside, his sheer tenacity is legendary.

Long live the Taiwan-Japan frienship circle. From 1895 to 1945, Taiwan island was a colony of Imperial Japan, forver putting its cultural stamp on the island, including Terry Gou chairman of Foxconn. 70 years later, the son of the colonized rises to the occasion and extends a helping hand to his nation's former occupiers. What a turnaround!

I imagine how different it would be for a fresh grad to join a Japanese electronics in different eras:

1990: "Hello, welcome to Japan manufacturing inc. your financial security is set for life, nomikai parties are on Wednesdays and Fridays from 6PM for anyone who doesn't want to do paid overtime.

2016: "WELCOME TO TAIWAN INC. BIOTCH"

LCD isn't the future LED and OLED is... Foxcomm is going to shut down sharp if that is the only thing they can make.

I noticed that many of the major companies just seem to be riding on the brand name reputation they had in the 80s and 90s when most of their products were made in Japan and arguably had stricter QC. Nowadays mostly it's Made in China, Thailand, Malaysia, etc. with the quality being hit-or-miss. Still, you have to pay the more expensive Japanese price for it since, well, it's from a Japanese company. It's no wonder they're losing to their foreign competitors.

At home I'm still using Japanese electrical appliances that are older than myself. They were all built back when this country saw better days and I cherish them so.

I read an article in Consumer Reports last August that Sharp was selling their TV business to Hisense, which is a Chinese company. This must be the other shoe to drop. I don't even know what Sharp makes anymore. Back in the day, they made the best television sets in the world, and they were affordable.

Could be a light at the end of long dark tunnel. Good luck!

danny bloom:

Long live the Taiwan-Japan frienship circle. From 1895 to 1945, Taiwan island was a colony of Imperial Japan, forver putting its cultural stamp on the island, including Terry Gou chairman of Foxconn. 70 years later, the son of the colonized rises to the occasion and extends a helping hand to his nation's former occupiers. What a turnaround!

It's called business, dear. Ain't got nothing to do with reliving the 'good old days'. And I don't think most people view the word 'colonized' in a positive way. It's possible to help another country with development and friendship without subjugating them.

They still make great TVs (I've got two). They aren't cheap though.

This is not the first Japanese corporation to be taken over by a foreign corporation and it won't be the last. I'm wondering if Abe and his 'nomics' cronies are paying any attention to the demise of Japanese corporations or, are they still holding their beliefs that Japanese corporations can survive in international markets that no longer belong to Japan.

For decades gaijin have been complaining about Japan being hostile to foreign investment in general and especially to foreign takeovers of Japanese companies. Now, when we have one, I would think it would be occasion for applause from the gaijin commentators.

Britain seems to have done reasonably well with foreign takeovers. For example, all of the volume automobile producers in Britain and such famous brands as Rolls Royce are foreign owned. Do a search on "foreign owned American brands" and you may well be surprised by what you find.

As for Abe and his cronies, I would imagine, indeed I know from reading Japanese articles about the subject, that there is a range of opinions. Contrary to what some commentators in this venue seem to believe, Japanese do not all think alike on every issue economic or otherwise.

What Foxconn will do with Sharp won't get get to me buy another one of their product after is leaves Japanese ownership. I will continue to try and support locally owned and operated companies & products first for local employment - not foreign owned ones that will eventually JUST have the products made in Chinese Sweat factories!

This whole taking-over thing sounds like a bad idea to me....