Briefing stockholders at a meeting in Sakai, Wu vowed to "transform the Sharp brand from one that is Japan-centric to a global brand." Currently, Wu is in charge of Sharp's global branding and overseas business in the Americas, Asia and Oceania. Sharp became a subsidiary of Hon Hai in 2016, in the first acquisition of a major Japanese firm by a foreign company. Hon Hai assembles Apple Inc.'s iPhones and is known by its trade name Foxconn. Tai is credited with leading the Japanese company back from the verge of collapse. Over recent years, a handful of Japanese companies have shifted to make English their official language. E-commerce giant Rakuten Inc. announced in 2012 that it would have its employees speak in English in a bid to boost its global compeitiveness. Hiroshi Mikitani, its chairman and CEO, has said communication in English is requisite to compete with international e-commerce giants.