HONG KONG--Sharp Corp. (6753.TO) now expects its full-year net
loss to deepen to ¥450 billion (US$5.6 billion) from a
¥250 billion loss it had previously forecast, a person with
knowledge of the matter said Thursday.
The deeper loss comes on the back of additional restructuring
costs and write-offs in deferred-tax assets triggered by a tougher
business outlook, the person said.
Despite the hefty net loss, the company expects to swing to an
operating profit in the second half of fiscal year, which runs
through March 2013, according to the person.
The Japanese maker of television sets and liquid crystal display
panels is set to report later Thursday its earnings for its fiscal
second quarter through September as well as its forecast for the
fiscal year.
Another Japanese electronics giant, Panasonic Corp. (6752.TO),
said Wednesday that it expected to fall into the red for a second
straight year, with an estimated total loss of more than Y1.5
trillion, or around $19 billion, over two fiscal years.
Write to Juro Osawa at juro.osawa@dowjones.com
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