Sharp to sell solar battery plant

Osaka - Japanese electronics manufacturer Sharp Corporation plans to sell its key solar battery plant here as part of the efforts to restructure the company, a newspaper said Thursday.

The company entered into negotiations with an overseas electronics maker over the sale of its plant in Sakai city. The plant is producing thin-film solar cells for mega solar power stations with an annual output capacity of 160,000 kilowatts, reported Xinhua.

The report also said the Osaka-based electronics company has started the process of selling prime real estate, including its Tokyo branch office building.

The maker is expecting a more than 100 billion yen (about $1.27 billion) improvement on its balance sheet from a series of the planned sales, the report added.