Japanese electronics maker Sharp Corp. is planning to spin off its semiconductor operations into two wholly owned subsidiaries, Jiji Press reported Dec. 27.

One unit would reportedly comprise the company's semiconductors and sensors business, while the other would be dedicated to its semiconductor lasers. Sharp said the move may happen in April 2019.

Through the spinoff, the company aims to streamline management and also partner with other companies to access outside resources in the semiconductor industry, according to the report. Such tie-ups could include Sharp's parent Hon Hai Precision Industry Co. Ltd., the Taiwanese contract electronics manufacturer that is also known as Foxconn.

Sharp has previously focused on operations related to liquid crystal displays.