Due to the ongoing slump in the LCD panel industry, Sharp, a company with investment from Hon Hai, is pushing forward structural reforms. It has announced plans to shutter its subsidiary, Sharp Yonago, which specializes in the production of small- and medium-sized LCD panels. The closure is anticipated to be finalized by the end of July, with around 160 employees slated to participate in a voluntary resignation program.

On January 28, Sharp conducted an employee briefing session. During this meeting, the company proposed various employee placement measures. (Note: The original Chinese term is more accurately translated as measures for employee relocation or resettlement, but “settlement measures” was used initially to fit the context. Here, we clarify the intent.) These measures include job transfer support and enhanced severance packages. At present, the future plans for utilizing the land and factory of the subsidiary remain undecided.