Sharp Falters with Latest Financial Results, but MFP Business Sees Gains
February 4, 2015 – It’s been up-and-down for Sharp Corporation of Japan for the last several years, and though after suffering a series of losses the firm was finally able to post a small profit in late 2013, on February 3, 2015, the firm reported a 7.2 billion yen loss for its nine months ending December 31, 2014. It’s now also forecasting a 30 billion yen net loss for its full fiscal year ending in March 2015, whereas previously it had forecast a small profit.
Net sales for the nine months were also down, totaling 2,090.4 billion yen, down 3.1 percent versus the same period a year ago.
Sharp says the net loss was due to recording taxes deferred from a prior period, as well as lower sales of LCD TV, which were down 4.4 percent, and lower sales of Energy Solutions, which were down 29.0 percent, both versus the same period a year prior.
The bright spot, as has been usual, was Sharp’s MFP business, which recorded sales of 249.7 billion yen, up 6 percent versus the same period a year ago.