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Sharp Posts Higher Sales, Turns Profit

Osaka, Japan — Sharp Electronics increased its net sales and turned a profit for its fiscal year, ended March 31.

Net sales were up 18.1 percent to 2,927.1 billion yen. Net income was 11.5 billion yen after a prior-year loss of 545.3 billion yen, and operating profit was 108.5 billion yen, compared with a year-earlier loss of 146.3 billion yen.

Sharp reported that Japanese monetary policy changes, an improved local economy, and moderate growth in the U.S. and China were factors in the improved performance.

Sharp said that in its digital information equipment segment, which consists in part of CE and LCD TVs, sales were up 0.2 percent compared with the previous year. Sales of LCD TVs were reported sluggish in the Americas in the year.

The company expects moderate economic growth during the fiscal year and will continue its corporate restructuring, which will emphasize new technologies and businesses.