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However, a new loan on September 27 allowed Sharp to take a breather.
According to Japanese media reports, due to the approval of the Sharp restructuring plan, Sharp's major trading banks will approve a loan of 360 billion yen (about 4.6 billion US dollars) to ensure the company's capital flow during the fiscal year.
But whether Sharp can finally get out of trouble, whether the negotiations with Hon Hai can speed up due to loans are still unknown. In the new financing, Mizuho Corporation Bank and Bankof Tokyo-Mitsubishi U FJ will issue half of the 360 ​​billion yen loans to Sharp, and the rest will be through syndicated loans.
In order to persuade the bank to approve the loan, Sharp survived. According to Japanese media reports, Sharp promised to improve its business conditions for six months from October 2012 and gradually realize profitability. It is planned to turn a profit in fiscal 2013. To this end, Sharp plans to lay off employees, sell overseas factories, handle solar energy and other assets, and plans to merge the mobile phone business with Fujitsu. It is expected to cut over 10,000 employees, sell Hon Hai in factories in Mexico and China, and sell them to Hon Hai in Malaysia.
In addition, Sharp has also applied to withdraw from the stock exchanges in Nagoya, Fukuoka and Sapporo, Japan, and transactions in the Tokyo and Osaka stock exchanges remain. Withdrawal from these three stock exchanges will reduce maintenance costs by more than 1 million yen a year.
The relevant person in charge of Sharp China told the reporter that Sharp did propose a financing application, but what conditions can be approved by the bank instead of Sharp. As for the layoffs plan, it said that as of yesterday, the layoff plan is still 5,000 people before, and does not involve China.
Sharp is now struggling and is caught in the biggest loss season in its history. In fiscal 2011, the loss was 376 billion yen, and it is expected to lose a loss of 250 billion yen in fiscal 2012. This caused Sharp's share price to fall this year and fell below 200 yen. In September this year, Sharp will have a large short-term loan due, financing difficulties, making Sharp into a financial dilemma.
Asahi TV reported that the company passed the new restructuring plan, and even if it did not receive Hon Hai’s capital contribution, it could guarantee that the financial deficit would not appear until March 2014.
Although the financing can solve Sharp's urgent needs, Sharp's restructuring plan mainly focuses on selling assets and layoffs, and has not pointed out new growth strategies. Its panel line activity rate is still low, and sales in China are not satisfactory. The industry generally refers to the cooperation with Hon Hai as the road to revitalization.
Hon Hai and Foxconn and other young soldiers have huge low-cost manufacturing capabilities and estuary. It is precisely the sharpness of the panel line, and Sharp is the only father in the world. The quantitative advantage of oxide semiconductor products, and its technological advantages and Hon Hai's capital and manufacturing advantages, has always been regarded as "the combination of heaven and earth."
According to the originally proposed agreement, Hon Hai acquired a 37.6% stake in the Sharp Factory of Sharp's 10th generation line for 66 billion yen, and obtained half of the production capacity of the 10th generation line; and acquired Sharp for 65.9 billion yen at a price of 550 yen per share. The head office is 9.9%, becoming the largest single shareholder of Sharp.
Sharp insiders said yesterday that Hon Hai did not ask for board seats and management rights. However, Sharp's share price plummeted in August, and Hon Hai was dissatisfied with the results of previous negotiations.
Li Yaqin, research director of Qunzhi Consulting, told reporters that Sharp’s reorganization plan disclosed did not involve Hon Hai’s shareholding, at least indicating that Sharp’s new conditions for Hon Hai were unacceptable. The differences between the two will focus on three aspects, namely, whether Hon Hai can gain more control, Hon Hai's capital, and technical cooperation.
Sharp China insiders said that the cooperation between Sharp and Hon Hai can be divided into three parts. One is the factory, the cooperation has been realized, and Sharp has received the money. The second is to cooperate in mobile phones and TV, such as launching smartphones in mainland China. The third is Hon Hai's shareholding in Sharp. "The first two cooperations are smooth, and the third one is deadlocked."
Li Yaqin told reporters that the reason why Hon Hai cooperated with Sharp is to extend the original competitiveness. Earlier, Hon Hai delayed the negotiations, but also hoped to use Sharp's capital chain dilemma. Now the dilemma is solved. It is expected that the Hon Hai strategy will change. "The negotiation process is expected to speed up and break the deadlock."
However, some people think that it is not too optimistic, and Hon Hai has no signs of concession. Moreover, Sharp's mobile phone is also very risky. Because of the mobile Internet era, in addition to hardware, the corresponding applications and channels are very important, but Sharp's advantage in this respect is not obvious. 
Sustained a huge loss for 2 years; it is expected to lay off 10,000 people; in order to save maintenance costs, apply for withdrawal from the stock exchanges in Japan; the negotiations with Hon Hai are in a stalemate... The year is not good, Sharp is like an old man who has been bent over. Let people ask: Can you still eat rice?