Sharp has debts of$12.76bn and cash of$2.75bn,according to Bloomberg,and is seeking to shrink its workforce by another 3,000 employees on top of the 5,000 lay-offs announced earlier this month.
The company is currently forecasting a$3.2bn loss for the year.
Sharp has been trying to sell a 10%stake in the company to Foxconn,the China contract assembly company,but Foxconn has insisted on a renegotiation of the deal as Sharp's shares have kept falling.
Sharp has been reported as trying to sell its TV flat panel plants in Mexico and China to Foxconn.It is also said to be considering selling its copier business,its air conditioning business,a Japanese display factory and its Japan-based solar-battery plant.
Of the$12.76bn debt,$4.25bn is said to be short-term debt repayable within a year;$4.56bn is commercial paper;$2.39bn is in the form of corporate bonds;and$1.56bn is long-term debt.
