Reflecting Profitable Fiscal Year, Sharp to Pay Dividends For First Time in Six Years

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Sharp 8K television

Sharp Corporation of Osaka, Japan, reported results for its fiscal year that ended on March 31, 2018, with earnings “improving significantly year-over-year,” and net sales increasing 18 percent versus the previous fiscal year, with all segments reporting revenue growth. Sharp also reported a profit of 70 billion yen, versus a loss of 25 billion yen for the previous fiscal year.

Sharp said that “profits improved steadily throughout its fiscal year,” as the company recorded profits for four consecutive quarters in  its fiscal year, the first time it’s done so since 2007, before the 2008 global economic crisis. Back in December 2017, Sharp had been promoted back to the first section of the Tokyo Stock Exchange, reflecting its improving finances. Foxconn of Taiwan purchased Sharp Corporation in 2016 for $3.8 billion.

Among Sharp’s business units, its Advanced Display group, which makes LCD panels, saw the biggest improvement for the fiscal year, reporting net sales of 1086.5 billion yen, an increase of 29 percent versus the previous fiscal year, and operating profit of 37 billion yen, an increase of about 10.4-times versus the previous fiscal year’s operating profit of 3.5 billion yen.

Operating profit for Sharp’s Smart Business Solutions group, which includes copier/MFPs and other business solutions, was 20.1 billion yen, down 10.6 percent versus the previous year, but sales for the group totaled 331.1 billion yen, up 4.2 percent versus the previous fiscal year.

Fourth Quarter

For its fourth quarter, Sharp reported that net sales “continued to show strength, outperforming the same quarter in the prior fiscal year.” Operating profit and ordinary profit were “essentially the same when excluding 15.6 billion yen in temporary factors in the prior year.” Despite this, net profit for the fourth quarter was essentially the same versus prior quarter, due in part to structural reforms.

Forecast

Sharp is projecting that its current fiscal year’s net sales and profits will exceed those of the previous fiscal year.

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