The Yen is weaker than the dollar by a great margin, which means that 5 billion Yen isn't as huge a sum of money as it sounds. Then again, random people would consider even a single million dollars a fortune.
Qualcomm is the one that will soon be 5 billion yen shorter. The sum is equivalent to $61 million / 46 million Euro, according to today's exchange rates.
The company
will give that sum to Sharp, lightening its financial burden somewhat and securing a special deal for its IGZO LCD display technology in the process.
It may not be enough to offset the 10 billion Yen loss suffered after the joint venture with Sony crashed and burned earlier this year, but it is more than some may have expected.
If nothing else, it means that Sharp should actually be able to get through 2013 now.
If the investment goes forward as planned, Qualcomm will be given about 5% of Sharp's stock. After “sufficient progress” has been made, another 5 billion yen will be deposited in Sharp's metaphorical coffers.
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