Osaka -- (JCN Newswire) --

Sharp Corporation ("Sharp") passed a resolution at the board of directors meeting held on March 27, 2012 to (i) form a business alliance with Hon Hai Precision Industry Co., Ltd. ("Hon Hai"), (ii) issue new shares through a third-party allotment to four companies of Hon Hai group ("Capital Increase Through Third-Party Allotment"), and (iii) enter into a capital and business alliance with four companies of Hon Hai group ("Capital and Business Alliance").

However, please be informed that the subscription payment ("This Payment") from the allottee of Capital Increase Through Third-Party Allotment was not executed by today (March 26, 2013) the last day of the term of This Payment, mainly due to the reason that the approval for the Capital Increase Through Third-Party Allotment from the relevant authorities could not be received.

Regarding the investment, purpose of the proceeds from the Capital Increase Through Third-Party Allotment, aimed at the enhancement and rationalization of manufacturing facilities of LCDs for mobile devices as well as the implementation of new LCD technologies, Sharp will continue to execute it by reviewing on the amount and term, and examining the possibility of other way of funding due to the unfulfillment of This Payment.

The unfulfillment of This Payment will not have an impact on Capital and Business Alliance other than Capital Increase Through Third-Party Allotment. The business alliance with Hon Hai has achieved considerable progress mainly by joint management of Sakai Display Products Corporation ("SDP"), making stable operation and strengthening cost competitiveness of the plant by both companies to procure LCD panels produced in SDP.

For the details of this Capital and Business Alliance, please refer to the news release "Issuance of New Shares Through Third-Party Allotment Associated with Business Alliance and Partial Transfer of Shares in Subsidiaries" issued on March 27, 2012.

About Sharp

<BR /><BR />Sharp Corporation (TSE: 6753) is a worldwide developer of innovative products and core technologies that play a key role in shaping the future of electronics. As a leader in liquid crystal displays (LCDs) and digital technologies, Sharp offers one of the broadest and most advanced lines of consumer electronics, information products and electronic components, while also creating new network businesses. For more information, please visit www.sharp.co.jp .

Contact:

Corporate Public Relations Division
Sharp Corporation
Phone: +81-6-6625-3006 (Osaka)
Phone: +81-3-3260-1870 (Tokyo)