TAIPEI (Reuters) – Foxconn Chairman Liu Young-way held talks with mid-level employees at Japan’s Sharp this week and talked about topics including the relationship between the two companies, according to two sources familiar with the matter.
Foxconn, the world’s largest contract electronics maker, reported a 56% plunge in first-quarter net profit, due to a T$17.3 billion ($553 million) writedown related to its 34% stake in Japanese electronics maker Sharp.
During the meetings, which were attended by more than 100 employees, Liu talked about issues including the two companies’ relationship, Sharp’s global positioning and the future of the Japanese company, according to the two sources.
Sharp and Foxconn did not immediately respond to requests for comment.
Liu said earlier this year he would work harder on the management of Sharp but did not offer details.
The Japanese company reported in May a full-year loss of $1.9 billion after writing down the value of its panel display business and a swathe of other assets.
($1 = 31.2680 Taiwan dollars)
(Reporting By Yimou Lee in Taipei; Editing by Anne Marie Roantree, Himani Sarkar and Tom Hogue)
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