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Sharp posted a $5.4 billion net loss

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Staff writer ▼ | May 15, 2013
SharpSharp posted a $5.4 billion (545.4 billion yen) net loss in the fiscal year, compared to a 376 billion yen net loss in the previous year. The company forecasts a slim net profit this fiscal year.

Sharp forecasts a 5 billion yen net profit this fiscal year on net sales of 2.7 trillion yen ($26.6 billion), up 8.9 percent from the year before. The company also said it would reduce its capital to help improve its balance sheet and make a fresh start.

Sharp said its net loss in the past year was worsened by costs for restructuring despite improved demand for electronics components such as liquid crystal displays (LCDs) and solar cells. All product groups except LCD panel business showed improved operating income in the second half of the year.

In its new business plan, Sharp said it planned to beef up its loss-making LCD panel business and it plans to cut capital investment by 3 percent to 80 billion yen ($789 million).

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