Sales, Profits Down for Sharp’s Fiscal Year, but Business Solutions Group’s Sales Up
This week, Sharp Corporation of Japan reported financial results for its fiscal year that ended in March 2015, with net sales down 11.7 percent, operating income down 6.6 percent, and profits of 222.3 billion yen, down 10.4 percent, with all versus the previous fiscal year.
Note that in March 2015, Foxconn Technology Group, the parent company of Taiwan’s Hon Hai Precision Industry, took a controlling interest in Sharp for 389 billion yen ($3.5 billion U.S.) – see story here for more.
Within Sharp’s Business Solutions group, which includes copier/MFPs, business displays, and related software and supplies, sales were up 3.5 percent to 355.1 billion yen versus the previous fiscal year. However, sales of just copier/printers were down 9.9 percent to 137.0 billion yen versus the previous fiscal year.
Sales for Sharp’s Energy Solutions group and Consumer Electronics took the biggest hit among all its business groups, with sales down 42.1 percent and 17.5 percent, respectively, with both versus the previous fiscal year.
Operating income for the Business Solutions group was up 14.4 percent to 35.8 billion yen. Sharp reported the following achievements for its Business Solution group:
- Expanded its sales channels and released new products to increase the profit basis in its MFP business.
- Enhanced its solutions business with a focus on MFPs and displays.
- Improved and expanded new businesses such as robotics, where it expects market growth.
Sharp did not provide a forecast for its current fiscal year.
- March 2016: Foxconn to Invest Billions of Yen in Sharp’s Business Solutions Group
- March 2016: Foxconn Takes Controlling Interest in Sharp in Reduced Buyout
- March 2016: Foxconn Reportedly Lowers Bid for Sharp by Some $900 Million
- February 2016: Foxconn Backs Down at Last Minute from Purchasing Sharp
- February 2016: Loss for Sharp’s Nine Months; Business Solutions’ Sales Steady
- January 2016: Foxconn Reportedly Makes $5.1 Billion Bid for Sharp Corporation
- November 2015: Loss for Sharp’s Second Half, but Business Solutions’ Sales Up 3.8 Percent
- August 2015: Sharp Reports Net Loss of $274 Million; MFP Sales Steady; Will Exit TV Business in Americas
- May 2015: Banks to Provide Sharp with $1.7 Billion Bailout, Layoffs in the Works, Reports Loss for Fiscal Year
- March 2015: Sharp President to Ask for More Funds from Lenders
- February 2015: Sharp Falters with Latest Financial Results, but MFP Business Sees Gains