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Sharp Posts Net Loss For Fiscal Year

Tokyo – Sharp Electronics reported a net loss and a
double-digit drop in net sales in its fiscal year, ended March 31.

The net loss was 376 billion yen compared with the prior
year’s net income of 19.4 billion yen, and sales were down 18.7 percent for the
year to 2.46 trillion yen.

Sharp blamed the usual culprits — the continued strength of
the yen, troubles with the Japanese and European economies and a slowdown in
China — and lower demand for LCD TVs.

In its consumer/information products unit, sales were down 25.6
percent to 1.06 trillion yen compared with the prior year due to “sharply
decreased demand” in Japan and larger-than-expected price declines, “which was
slightly offset by healthy growth of large-size models 60 inches and larger
overseas, especially in North America,” the company said.

Sharp, which entered into an agreement with Hon Hai Group,
the Taiwanese electronics
manufacturer that bought a 10 percent stake in the company and is a major Apple
supplier, sees some optimism from that and for growing demand for LCDs in
smartphones and tablets, but expects the coming fiscal year to “remain
unpredictable,” the company said.