Sharp Posts FY 2015 Net Loss of 255.97 Billion Yen, in Red for 2nd Year

TOKYO, JAPAN – MAY 12: Sharp Corp., restructuring under Taiwan's Hon Hai Precision Industry Co., said Thursday it posted a group net loss of 255.97 billion yen in the business year ended March, compared with a loss of 222.35 billion yen a year earlier, as the Japanese electronics maker continues to incur losses in its core liquid crystal display business. The Osaka-based company's operating loss in fiscal 2015 rose more than three times to 161.97 billion yen, compared with a loss of 48.07 billion yen in the previous year, on sales of 2.46 trillion yen, down 11.7 percent. Sharp also announced that Tai Jeng-wu, vice chairman of Hon Hai, will take the helm of the Japanese company after the takeover deal procedures are complete, replacing Kozo Takahashi. Sharp did not release a full-year earnings outlook for the current business year, saying it has to assess the outcome of the takeover deal first.