Tai to Remain as Sharp Chairman until FY 2021

Economy

Osaka, May 27 (Jiji Press)--Sharp Corp. <6753> Chairman and President Tai Jeng-wu said Monday that he will remain as chairman of the Japanese electronics maker until fiscal 2021, which ends in March 2022.

Speaking to reporters, Tai said he wants to hand over the post of president if someone suitable for the job appears.

He said that he will not be involved in the operations of Hon Hai Precision Industry Co. after returning to the board of the Taiwanese parent of Sharp.

Sharp sees trade tensions between the United States and China affecting some 3.8 pct of its product sales, Tai said. In response, the company plans to transfer production in China to Southeast Asia, he said.

Tai also said that Sharp's products are expected to gain an advantage if Huawei Technologies Co.'s share declines on smartphone and other markets due to U.S. restrictions against the Chinese telecommunications equipment maker.

[Copyright The Jiji Press, Ltd.]

Jiji Press