| Japan Corporate News Network |
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| Sharp Doubles Loss Estimate |
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Tokyo, Apr 22, 2009 (JCN) - Sharp Corp. doubled its loss estimate for the year give slump in sales of televisions and panels, but brought forward plans for a cost-efficient factory to cut costs.
The company would shift overseas some output of key components such as panels and solar cells with domestic partners to lessen the impact of foreign exchange fluctuations and control capital spending, a departure from its usual strategy of making core products at home.
Sharp faced an uphill task to make the new business model work. Panel demand was recovering, prompting it to move up its date for starting production at its plant by five months to October. Sharp's 380 billion yen (US$3.8 billion) plant in western Japan will process 10th-generation glass substrates, which are bigger than earlier generation substrates and help reduce per panel production costs.
Earnings were hit by mounting inventory from unsold liquid crystal display panels and televisions as consumers limit spending amid the global economic crisis, as well as restructuring costs.
Copyright © 2010 JCN. All rights reserved. A division of Japan Corporate News Network KK.
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