Sharp Corp.’s credit rating was cut to speculative grade by Standard & Poor’s as Foxconn Technology Group said it was still renegotiating a planned investment. The stock fell 13 percent, and Sharp found a defect in some smartphone displays.
Sharp Corp., Japan’s biggest maker of liquid-crystal displays, fell the most in five days in Tokyo trading on reports the company may eliminate more jobs and seek investments from companies other than Foxconn Technology Group.
Sony Corp . Chairman Howard Stringer apologized and offered U.S. customers of PlayStation Network and Qriocity online entertainment services a year of free identity- theft protection after the system was crippled by hackers.
Panasonic Corp. , the world’s largest maker of plasma televisions, rose the most in almost six weeks in Tokyo trading after announcing plans to cut jobs and restructure operations to restore profitability.
Sharp Corp. , Japan’s biggest solar- panel maker, agreed to buy California’s Recurrent Energy for as much as $305 million to expand into building power plants as it faces more competition from Chinese panel manufacturers.