|
The
electronics manufacturer expects to announce an operating loss
of 26 billion yen ($215 million) when it reports earnings for
the first half of the business year on Friday, instead of the 10
billion yen profit forecast in late July.
The company also lowered its full-year operating profit forecast
to 10 billion yen from 80 billion yen.
The forecasts are likely to add to pressure on Sharp to find a
buyer for part or all of its display business. Restructuring was
a primary condition to securing a 200 billion yen package from
banks in May, the second major rescue in just three years.
Sharp, once among the top suppliers to Apple Inc, has lost
market share in recent years to the likes of South Korea's LG
Display Co Ltd and domestic rival Japan Display Inc.
Critics said Sharp over-invested in manufacturing capacity over
the past decade, failing to innovate enough to counter profit
margin-eroding pressures.
Sharp shares closed at 137 yen earlier on Monday, down 49
percent in the year to date.
($1 = 120.9400 yen)
(Reporting by Ritsuko Ando; Editing by Edwina Gibbs and
Christopher Cushing)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
