Struggling electronics maker Sharp said Monday it is grappling with how to reform its LCD panel business, but has yet to make any decisions.

Kyodo News and other media reported that Sharp plans to spin off its business for small and mid-size LCD panels, used in smartphones and other mobile devices, by getting the state-backed Innovation Network Corporation of Japan (INCJ) to invest ¥100 billion (US$840 million) in a new subsidiary.

INCJ would control a roughly 40 percent stake in the LCD subsidiary, according to the reports. Sharp, however, denied that any plans have been made regarding its own business.

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