Sharp shares plunge 31% on capital reduction reports

geez are sharp share actaually worth anything other than its face value!?

That's a sharp plunge in shares.

That's a sharp plunge in shares.

but Nikkei 225 is sharply up !

Said it years ago on here, they should be allowed to go bust and make anew from the debris.

I worked at Sharp for 7 years and even in the good days, when Aquos was selling well, the rot had already set. Top management made a hash of expanding into Europe, while fear of the Chinese stealing the technology, meant that a large part of production remained in Japan.

Bonuses were always poor, even in good profit years and Human Resources treatment of middle management meant that Sharp lost a lot of skilled engineers and replaced them with the mediocre.

Sharp was always on shaky ground, with most R & D entailing surfing the net to see what other companies were up to.

It was a bit deja vu and seemed a lot like British Leyland all over again.

Weekend reports said Sharp plans to reduce its capital by 99% to just 100 million yen ($835,000), the upper limit for the category of small and mid-sized companies with tax advantages.

Wow. How far the once mighty have fallen. Anyone who does not believe the Japan Inc. model is broken and cannot lead to success in a global economy needs to look no further for proof to the contrary. Even Abenomics, with its cheal yen, could not save Sharp. And there are many, many more Sharp's out there.