Deals
Sharp's Losses, Liabilities Highlight Foxconn Revival Task
- Liabilities exceeded assets on parent and group basis
- President Takahashi to step down after Foxconn takeover
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Sharp Corp. posted a second straight annual loss and said liabilities exceeded its assets, highlighting the turnaround challenge facing new owner Foxconn Technology Group.
The net loss was 256 billion yen ($2.35 billion) in the year ended March, from a loss of 222.3 billion yen a year earlier, the Osaka-based company said Thursday. The result compares with the 161 billion yen loss expected by analysts.