The $7 billion investment plan by Sharp Corp is aimed at smoothening U.S.-Japan ties.
A source with knowledge of the matter has revealed that Sharp Corp is likely to build a $7 billion plant during the first half of this year in the United States, thus taking a lead on a project that was initially outlined by its Taiwanese parent Foxconn.
This strategic decision taken by Foxconn, comes in the wake of Japanese Prime Minister, Shinzo Abe, preparing to travel to the United States to meet U.S. President Donald Trump.
According to sources familiar with the matter at hand, Tokyo plans on unveiling investment packages that could create as many as 700,000 U.S. jobs.
“The investment will be by a Japanese consortium that will also include manufacturing equipment makers,” said a source on the condition of anonymity.
.When asked to respond to requests for comments, Sharp’s spokesman disclosed that a decision on building a plant has yet to be taken while Foxconn, also known as Hon Hai Precision Industry Co Ltd, did not immediately respond to requests for comments.
Last month, Terry Gou, the Foxconn’s CEO, had said that he was considering investing around $7 billion for a display-unit plant in the U.S. without disclosing any time frame.