30 March 2016 (12:28 UTC-07 Tango 01) 11 Farvardin 1395/20 Jumada t-Tania 1437/22 Xin Mao 4714

On the verge of a takeover deal from Republic of China’s (Taiwan) Hon Hai (Foxconn), Japan’s Sharp has admitted it’s been cooking its books to make itself look like a good buy.

Up ’til now Sharp claimed it was going to make a profit for 2015, but now it estimates a loss of $1.5-billion USD!  Amazingly, Hon Hai says it will go through with the takeover, officially by this weekend.  However, Hon Hai will pay $1-billion less than what it originally offered.

No more electronics maker Sharp! Foxconn beats out Samsung!