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Slideshow Sharp to get $1.92 billion from main creditors: Nikkei Tweet Share this Email Print Related News Investors cast doubts on Sharp's future, ability to pay debts 10:24am EDT Nikkei drops to 4-week closing low; Sharp shares tumble 2:52am EDT CORRECTED-UPDATE 2-Investors sell off Sharp shares on Hon Hai uncertainty Thu, Aug 30 2012 Hon Hai chairman leaves Japan without deal on Sharp: media Thu, Aug 30 2012 UPDATE 4-Hon Hai, Sharp may spend over $1 billion on Japan plant Thu, Aug 30 2012 Analysis & Opinion The problem of Japan’s household savings Related Topics Tech » Media » Fri Aug 31, 2012 2:30pm EDT (Reuters) - Loss-making electronics company Sharp Corp will receive an additional 150 billion yen ($1.92 billion) from Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ, helping it stay afloat through the end of the month, the Nikkei business daily reported. The Japanese LCD TV panel maker, which is weighed down by aggressive competition and sluggish TV demand, is also scrambling for money to refinance billions of dollars of debts maturing in the near term. Sharp's two main creditors will lend 75 billion yen each, fully backed by property and securities held by Sharp, the paper said. The company's stock declined the most in almost a month on Friday on uncertainty over a tie-up with Hon Hai Precision Industry Co Ltd after the abrupt departure of the Taiwanese company's chairman from Japan. Century-old Sharp, which also makes screens for Apple Inc's products, is discussing a partnership with Hon Hai that would give the Taiwanese company a 9.9 percent stake and more muscle to cut costs. Ratings agency Standard & Poor downgraded Sharp's debt to junk and said it was keeping a watch for possible further downgrade. Sharp is in a hurry to flesh out new restructuring measures this month to attract more financial assistance from its lenders, life insurers and trust banks, the business daily reported. ($1 = 78.3000 Japanese yen) (Reporting By Garima Goel in Bangalore; Editing by Maju Samuel) 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. Add yours using the box above. 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