Sharp Reports Higher Sales for Latest Six Months, Raises Profit Forecast

Sharp Headquarters in Osaka Japan

Sharp Corporation of Osaka, Japan, reported financial results for the six months ending September 30, 2017, with net sales of 1.1 billion yen, up 21.3 percent, versus the same period a year earlier, and net income of 52.43 billion yen, versus a loss of 162.95 billion yen versus the same period a year earlier.

Sharp – which, in 2016, Foxconn Technology Group purchased a controlling interest in for $3.5 billion – said that its net sales and profits outperformed its forecast announced in May 2017, with net sales up sharply (21.3 percent) and profits back to “pre-Leham levels” – apparently referring to the 2008 global financial crisis.

Within Sharp’s Smart Business Solutions group, which includes printers and copier/MFPs, sales totaled 167.2 billion yen, up 1.9 percent versus the same period a year earlier.

Operating profit for Smart Business Solutions group for the first half, however, was 20.4 billion yen, down 20.8 percent versus the same period a year earlier. A look at the Smart Business Solutions group’s sales by quarter shows an interesting generally upwards trajectory, as shown by the chart below. Sharp stated that higher sales for the Smart Business Solutions were “mainly due to favorable performance in signage sales, as well as sales improvements for multi-function printers overseas in response to investments to expand sales channels.”

Forecast

For its complete fiscal year that will end in March 2018, Sharp is forecasting net sales of 2,510 billion yen, up 22.4 percent versus the previous fiscal year, and as previously forecast, but it’s raised its profit forecast to 69.0 billion yen.

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