Struggling Japanese electronics maker Sharp Corp. said Wednesday that it would receive 10.38 billion yen in investment from Samsung Electronics Co. this month and increase its supply of liquid crystal display (LCD) panels to the South Korean company.

It will be the first time for major Japanese and South Korean electronics makers to form a capital tie-up, despite their rival in the TV and flat-panel operations.

The deal will give the South Korean electronic giant Samsung about 3 percent stake in Sharp, and allow Sharp to expand its supply of liquid crystal display panels.

Sharp will issue new shares through a third-party allocation on March 28 to Samsung's Japanese unit, while Samsung will pay 290 yen per Sharp share to acquire 35.80 million shares. The issue price is around 3 percent lower than the closing price of 299 yen Tuesday, Sharp said.

The company plans to use the investment to introduce new technology to produce high-definition LCDs and streamline its manufacturing facilities for LCD-related devices such as tablet and notebook computers, according to the company. Endi

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