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Sharp looking at first loss ever in FY2008

February 3, 2009
By Ken Worsley


Last year, Sharp posted an an operating profit of 183.6 billion yen. According to the Nikkei, the firm is set to post a loss somewhere in the range of 10 billion yen for FY2008, which would be the first loss in the firm’s history. At the beginning of FY2008, Sharp predicted a 6% rise in operating profit to 195 billion yen.

Sharp is apparently also looking at a 40 billion yen hit on its securities holdings, and a net loss of about 100 billion yen for FY2008. About 10.8 billion yen has also been set aside to pay fines relating to Sharp’s involvement in LCD screen price-fixing cartels.

Filed Under Business, Technology 

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Comments

One Response to “Sharp looking at first loss ever in FY2008”

  1. J Sak on February 4th, 2009 10:29 pm

    how much of the loss can be attributed to foreign exchange, and lack of or overhedging? I work in the industry and I find that overall not one firm was able to adjust their mindsets to the point that drastic measures were needed. If firms are nimble and can react quickly, they have the opportunity to limit their losses. Case in point, late summer 2006, I sold all of my equities and bought fixed income products. My losses now make up a total of about 9 percent of my portfolio. I was able to act quickly, why did it take Hitachi and now today Pana, so long to figure things out?

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