TAIPEI (Reuters) – Foxconn Chairman Liu Young-way spoke to mid-level employees at Sharp in Japan this week and touched on topics including the relationship between the two companies, two sources familiar with the company said. case.
Foxconn, the world’s largest contract electronics maker, reported a 56% drop in first-quarter net profit, due to a $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, Mr. Liu discussed issues such as the relationship between the two companies, 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 managing Sharp but did not provide details.
The Japanese company reported a full-year loss of $1.9 billion in May after writing down the value of its billboard display business and numerous other assets.
($1 = 31.2680 Taiwan dollars)
(Reporting by Yimou Lee in Taipei; Editing by Anne Marie Roantree, Himani Sarkar and Tom Hogue)