“Except for the solar business, all of our operations are profitable,” said Sharp’s executive VP Katsuaki Nomura following the publication of the Japanese electronic giant’s full-year financials this week. “Decision making has sped up under new management and so has the pace of balance sheet improvement.”
Given the general uncertainty surrounding Sharp’s very involvement in the solar industry in recent years, that the firm posted a loss in its solar division should come as no surprise.
Acquired by Taiwan’s Foxconn Technology Group in August, Sharp has enjoyed a tripling of its share value since then, and has managed to reduce its 2016 FY losses to 37.2 billion yen ($329 million), down from a projected loss of 53 billion yen.
But while the company’s display business has improved, its energy solutions division posted a -7.9% contraction in operating income in the third quarter of 2016, while over the course of the 2016 FY (which runs April to April) income is negative 12.7%, making it the only division in the red across the company.
To return to growth, Sharp will seek to invest aggressively in technology, strengthen the global brand and accelerate new businesses, the company said in its financial report.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.