Hon Hai benefits from Sharp's decision to renegotiate share purchase price

Hon Hai is benefiting from a deal to renegotiate its investment in Sharp, after shares of the Japanese electronics firm fell sharply last week. The news boosted Hon Hai Group's market value by nearly NT$70 billion today. At the opening of the stock market today, both Hon Hai and Foxconn shares rose by the daily limit. Each fell slightly as trading continued, but the Hon Hai Group's market value still rose NT$67.4 billion in one day. Hon Hai had been affected by dramatic declines in Sharp's share price last week, putting heat on Hon Hai Chairman Terry Gou. Fortunately, he was able to announce Sharp's decision to renegotiate the share purchase. Terry Gou Hon Hai ChairmanOur 10 percent investment definitely will not change. We also did not take the initiative and say their stock price was too