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Sharp intends to lower capital to 500 million yen: source

TOKYO (Reuters) - Loss-making Japanese electronics maker Sharp Corp intends to reduce its capital to 500 million yen ($4.2 million) from more than 120 billion yen, compared with a previously planned target of 100 million yen, a source with knowledge of the move said. The capital reduction is part of a restructuring package it is negotiating with its lenders. Details of the rescue plan, along with restructuring measures including job cuts, are expected to be announced on Thursday. The Nikkei business daily reported earlier that Sharp intended to scale down its capital reduction plan. (Reporting by Reiji Murai)