Sharp CEO: Foxconn to continue to pursue Toshiba chip unit acquisition

Taiwan's Foxconn will continue to pursue an acquisition of Toshiba Corp's chip business, a day after the troubled conglomerate chose a rival suitor as the preferred bidder, the head of Foxconn's Japanese unit said.

"We will continue our efforts," Sharp Corp CEO Tai Jeng-wu told reporters on the sidelines of Foxconn's annual shareholders' meeting. "We will use our track record, our efforts at Sharp, Foxconn's global reach - we are a global company, not a Taiwan company," Tai said.

Foxconn is formally known as Hon Hai Precision Industry Co.