Japanese Sharp said Tuesday it now expects to suffer a group net loss of ¥30 billion in fiscal 2014, which ends in March, against its previous estimate of ¥30 billion in profit, due chiefly to weak sales of liquid crystal display panels and a weaker yen. "We revised the previously announced forecast as we anticipate worsening profits due to delay in taking action for greater-than-expected changes in business environment, such as rapid fluctuations in exchange rates and a price decline in small-and medium-size LCD business," Sharp said.

Sharp President Kozo Takahashi said the company will draw up a new medium-term business plan that will include drastic structural reform of its LCD television and other operations.

In April-December, Sharp posted a group net loss of ¥7.16 billion, against the year-before profit of ¥17.72 billion, and an operating profit of ¥51.26 billion, down 37.1 percent from a year before. Those were the results of a sales decline of LCD TVs and the company's Energy Solutions, along with falling prices in small- and medium-size LCDs.

Separately on Tuesday Sharp said it agreed to sell Recurrent Energy LLC, a North American solar energy business, to Canadian Solar for $265 million.