Sharp, Japan's leading maker of liquid crystal displays, is expected to reveal a new medium-term business management plan on May 14. It wants a new management structure for a business rebuilding with authority concentrated with Okuda, the news agency said.
The company's main creditor banks, Mizuho Corporate Bank and the Bank of Tokyo-Mitsubishi UFJ, have been calling for Katayama's retirement because his presence caused uncertainty in the decision-making process and his retirement was considered unavoidable.
Katayama has already notified creditors of his intention to step down and a company adviser, Katsuhiko Machida, and a special adviser, Haruo Tsuji, were expected to join him in the car park. Sharp is expected to record a $5.1 billion net loss in the year that ended on March 31 as panel plants asset write offs crimped its bottom line.