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See the best of Reuters photography. See more | Photo caption World of tourists A look at globe-trotting travelers on World Tourism Day. Slideshow The war on polio Worldwide cases of polio have fallen 99 percent since 1988. Slideshow Banks stake $4.6 billion on Sharp bailout to recoup money Tweet Share this Email Print Related News Sharp secures $4.6 billion loan to stay afloat Thu, Sep 27 2012 Sharp's main lenders agree to $2.7 billion bailout: sources Thu, Sep 27 2012 UPDATE 4-Sharp's main lenders agree to $2.7 bln bailout -sources Thu, Sep 27 2012 UPDATE 3-Sharp to win bank nod for $2.7 bln bailout as early as Thursday-source Tue, Sep 25 2012 Sharp to win bank nod for $2.7 billion bailout as early as Thursday: source Tue, Sep 25 2012 Related Topics Tech » Media » Shoppers on an escalator travel past Sharp's advertisement board at an electronic shop in Tokyo in this September 27, 2012 file photograph. Credit: Reuters/Kim Kyung-Hoon/Files TOKYO | Fri Sep 28, 2012 1:36am EDT TOKYO (Reuters) - Japan's Sharp Corp confirmed it had won a $4.6 billion bailout led by Mizuho Financial Group and Mitsubishi UFJ Financial Group, a deal that ends Sharp's immediate debt crisis but fails to resolve doubts about its future. Sharp said it has signed syndicated loan agreements with Mizuho and Mitsubishi UFJ for a 180 billion yen ($2.32 billion) term loan and a loan facility of an equal amount. The two banks will invite other lenders to join a syndicate to spread the risk, with life insurer Resona Holdings likely to join, a banking source told Reuters on condition of anonymity. Many other financial institutions are cautious because of continued worries about Sharp's future. The new lending will keep Sharp - which needs to repay as much as 360 billion yen of short term commercial loans over the coming months - in business, and could in turn give the banks a greater chance of recouping more than 300 billion yen in loans already extended to the embattled company. An uncertain future for the display maker, however, means the lenders risk throwing good money after bad, analysts say. "For the banks it's not good news," said Naoko Nemoto, managing director at ratings agency Standard & Poor's in Tokyo. "There are many uncertain things like (Sharp's) profit projections." The banks' pressure on Sharp to adopt a low-risk business plan may scupper plans to make Taiwanese partner Hon Hai Precision Industry its largest shareholder. Talks to seal the deal have been stalled since August and lenders may want Sharp to abandon the negotiation that would give fellow Apple Inc supplier Hon Hai, and its chairman Terry Gou, leverage to push the Japanese company into a riskier growth strategy. That strategy would involve expanding its liquid crystal display business, an analyst at a brokerage in Tokyo said, declining to be identified because of the sensitivity of issue. "For the next five years, Sharp belongs to the banks," the analyst said. That may mean more focus on stable, cash-generating businesses such as household appliances, he said. To secure bank backing, Sharp, which makes air conditioners, microwave ovens and Aquos TVs, has had to agree to drastic cost cuts such as selling overseas TV assembly plants, possibly to Hon Hai, and shutting solar panel operations abroad. The century-old firm, which made its start with ever-sharp mechanical pencils, expects to lose more than 100 billion yen this business year, sources say, as it struggles to compete against rivals including South Korea's Samsung Electronics. ($1 = 77.6950 Japanese yen) (Reporting by Tim Kelly, Taigai Uranaka and Mayumi Negishi; Editing by Daniel Magnowski) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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