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Business

Electronics giant Sharps reports $1.3 bln annual loss

Latest update : 2009-04-27

Japanese electronics giant Sharp Corp. announced Monday an annual net loss of $1.3 billion as a result of the global economic downturn. Sharp is not the only Japanese manufacturer badly hurt by the crisis.

AFP - Japanese electronics giant Sharp Corp. announced Monday an annual net loss of 125.82 billion yen (1.3 billion dollars), but forecast a return to profit in the current business year to March.

Sharp, which like other Japanese manufacturers has been badly hurt by the global economic downturn, predicted a net profit of 3.0 billion yen this year.

Date created : 2009-04-27

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