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Thursday, October 31, 2013
Sharp Reports Quarterly Profit After Two Years

Sharp reported its first quarterly net profit in two years, helped by a weaker yen and demand for solar cells and display panels.

Sharp said on Thursday it made a net profit of 13.6 billion yen ($139 million) in its fiscal second quarter, its first since the three months ended September 2011.

The company also reported an operating profit of 30.8 billion yen in July-September from an operating loss of 160.9 billion yen a year earlier.

For the first six months of the year, Sharp's net loss narrowed to 4.3 billion yen from 387.6 billion yen a year earlier.

During the six months ended September 30, 2013, the Sharp Group hasmade efforts to reinforce its the lineup of smartphones equipped with IGZO LCDs, enhance sales of solar cells primarily for the booming market in Japan, and increase sales of small- and medium-size LCDs and the high-performance camera modules for mobile devices.

Sales of Sharp's LCD TVs exceeded last year's figure due to healthy sales in Japan, China, and emerging countries, although sales in the Americas and Europe were sluggish. Sales of mobile phones, on the other hand, decreased due mainly to intensified competition with overseas manufacturers.

Sales of Sharp's Solar Cells were 168.2 billion yen, an 80% increase. This was due mainly to a sales increase in Japan centering on residential use, as well as industrial use, such as mega-solar power generation projects.

Sharp will continue to push ahead with its plan in order to achieve stable growth in profits and steady cash generation.

The company will try to expand sales of large-size LCD TVs such as high-definition 4K AQUOS and the "Quattron Pro,"which incorporates a full HD panel with high-definition capability equivalent to 4K. It will also boost sales of LCD TVs in emerging countries.

In mobile phones, Sharp intends to regain its market share in Japan primarily by increasing lineup of mobile phones and tablet terminals equipped with IGZO LCDs.

In LCDs, Sharp will strengthen sales activities of large-size LCDs and also strive to expand business with external customers in small- and medium-size LCDs centering on IGZO LCDs designed for smartphones, tablet terminals and note PCs.

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