KKR among suitors to buy Sharp’s business: Nikkei

(Reuters) — U.S. buyout firm KKR & Co (KKR.N) is among other private equity firms which are interested in investing in Sharp Corp (6753.T), Nikkei business daily reported Saturday, without citing sources.

The New York-based KKR has presented restructuring plans for Sharp, the report said, adding that the U.S. firm would use expertise of the state-backed Innovation Network Corporation of Japan (INCJ).

INCJ is in advanced talks to invest in Sharp with intention of broking a merger between Sharp’s display unit and Japan Display Inc (6740.T), a smartphone screen maker, as well as restructure its broader consumer electronics business.

Nikkei also reported on Saturday that Japan Display would offer to buy Sharp’s display unit in a deal worth as much as 100 billion yen ($825.08 million).