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Sharp Reports Profit, Lower Sales For FY

Osaka, Japan – Sharp Electronics reported lower sales but turned
a profit for the fiscal year, ended March 31.

Net sales were $29.5 billion, down 3.2 percent from the prior
year, while net income was $45.9 million, compared with a net loss of $1.34
billion in the prior fiscal year.

Sales of LCD TVs destined for overseas markets declined.
Operating income was $39.5 million, compared with an operating loss of $617 million
posted in the previous year, as profits improved for LCD TVs and mobile phones,
Sharp said.

Sharp reported that in large-size LCDs it was temporarily
affected by high prices of materials for LCD TV panels and costs associated
with the start of operations at an LCD plant in Sakai
in October 2009.

In fiscal 2009, LCD panel prices declined approximately 20
percent compared with the prior year. For small- and medium-size LCDs, the
severe market environment continued, including declines in sales volume and
price for units intended for mobile phones and game devices.

As a result, overall sales of LCDs in fiscal 2009 were $9.5
billion, down 15.9 percent compared with the previous year. However, operating
income was $118.6 million, up approximately 170 percent over the previous year,
even after including start-up costs for the LCD plant in Sakai.

On a monetary basis, sales of LCD TVs for fiscal 2009 were $7.13
billion, down 8.6 percent from the previous year. Sales on a unit basis were
10.18 million sets, up 1.8 percent.

Sharp said it will work to increase sales in fiscal 2010 through
the early introduction of 3D LCD TVs equipped with UV2A photo-alignment
technology, four-primary-color technology and other proprietary LCD

In addition, the company said it will take proactive steps to globally
expand sales of LED Aquos featuring panels based on new technologies. Sharp
will also be pursuing the creation of optimized production frameworks — from
design to manufacturing — to meet the needs of markets including the U.S. and
Europe, as well as China and other developing countries where demand is
expanding rapidly.