Hon Hai Precision Industry Co., Ltd. and Sharp Corporation are planning to form a joint venture to build a CNY 61,000 million ($8,800 million) factory in China to manufacture liquid-crystal displays. As part of the transaction, Sharp's subsidiary Sakai Display Products Corp. plans for the Guangzhou plant come as Hon Hai seeks to turn the joint venture into a subsidiary, investing a total of CNY 15,100 million ($2,170.57) in the company.

The joint venture will also sell 436,000 shares for CNY 17,100 million ($2,458.07 million) to an investment co-owned by Hon Hai Chairman Terry Gou, giving Hon Hai a 53% interest in the business and lowering Sharp's stake to 26% from 40%.