May 14, 2015, 3:19 AM
- Sharp (OTCPK:SHCAY) has secured a $1.7B bailout from banks, its second major rescue in three years, after its display business came under intense pricing pressure from Asian rivals.
- Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ will inject a combined ¥200B in a debt-for-equity swap, while Japan Industrial Solutions will provide ¥25B in funding.
- Sharp also posted a full-year net loss of ¥222.4B ($1.9B) today, its third loss in four years.
May 14, 2013, 6:14 AM
Sharp (SHCAY.PK) says it will replace its president and chairman effective June 25. The news comes after Japan's largest LCD display maker reported a record (and wider-than-expected) net loss of ¥545.35B for FY13, the largest loss in the firm's 100-year history. The company faces a tough road ahead with ¥330M in bond redemptions looming over the next two years and 10 times as many liabilities as cash. Nevertheless, management says it sees a net profit of of ¥5B in FY14, providing at least some hope that there is indeed a light at the end of the tunnel.| May 14, 2013, 6:14 AM
May 14, 2013, 6:02 AM
Apr. 10, 2013, 8:37 PM
Sharp (SHCAY.PK +9%) gains today after saying it's October-March operating profit will come in well above forecasts. The company likely generated slightly more than ¥20B ($200M) in group operating profit in the October-March period, surpassing the standing projection of ¥13.8B, thanks to such factors as payroll cutbacks and increased sales of LCD panels to Samsung Electronics.| Apr. 10, 2013, 8:37 PM
Feb. 4, 2013, 3:07 AM
Panasonic (PC) shares surge 17.9% in Tokyo - the stock's biggest gain since September 1974 - after the company made a surprise profit in FQ3. "Panasonic seems to have turned a corner,” says fund manager Masamitsu Ohki. "That is easing investor concerns about its survival." Sony (SNE) climbed 7.5% ahead of its earnings on Thursday, while Sharp rose 5.5% after it last week reported its first operating profit in five quarters.| Feb. 4, 2013, 3:07 AM
Nov. 1, 2012, 4:42 AM
Sharp (SHCAY.PK), a major supplier to Apple (AAPL) warns there is a "material doubt" about its ability to survive as it swings to a far larger than expected FQ2 net loss of ¥249.1B ($3.11B) from a net profit of ¥9.4B a year earlier, and as revenue falls to ¥645.5B. Books a special loss of ¥84.4B on restructuring costs and writes down deferred tax assets by ¥61B. Forecasts FY net loss of ¥450B vs previous prediction of ¥250B. (PR)| Nov. 1, 2012, 4:42 AM | 8 Comments
Apr. 27, 2012, 2:56 AM