OREANDA-NEWS. Sharp Corp. said it will release its midterm business plan and earnings results for the year ended March 31, on May 14.

The struggling Japanese electronics maker will unveil the business plan at a time when the future course of the company is still shrouded in uncertainty, after huge losses both in fiscal 2011 and forecast for the just-finished fiscal year.

Japanese media reported that as a means of strengthening its financial standing, Sharp will include a Y100 billion new share issuance as part of the plan.

The Asahi Shimbun said Sharp's creditor banks, Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ, are leaning toward accepting the equity financing due to signs of a recovery in Sharp's earnings.

But the company said the new share issue reports are not based on information announced by the company and that nothing has been decided.