Sharp Returns to Profitability After Two Years of Losses
Sharp Corporation of Japan reported today that it had returned to profitability in its fiscal year ending March 31, 2014. After two years of large losses, the company reported a 11.56 billion yen ($114 million) profit for its fiscal year – a sharp improvement over its loss of 545.35 billion yen in the previous year.
Sales were up 18.1 per cent to 2.93 trillion yen, with Sharp reporting brisk demand for panels, including its popular “IGZO” display for smartphones.
For its current fiscal year that will end in March 2015, it’s forecasting 30 billion yen in profit on sales of 3 trillion yen.
Within its Business Solutions group, sales revenue for the year were 318.8 billion yen, up 7.4 percent. Operating income was 30.5 billion yen, up 25.5 percent.
For the current year that ends in March 2105, Sharp is forecasting 30 billion yen in net profit and a 100 billion yen operating profit on sales of 3 trillion yen. Its current initiatives for the Business Solution group include:
- Expand print services and introduce new print services in convenience stores.
- Expand sales of high-speed MFPs in developed countries, and strengthen sales of color MFPs in countries with emerging markets.
- Increase its lineup of digital signage, particularly with larger digital signage.
- Develop new customers by offering solution proposals through a combination of MFPs and displays.