Deals
Sharp Shares Climb on Improved Prospects for Full-Year Profits
- Shares climb as much as 11% in Tokyo, most in two months
- Reforms and partnership with Foxconn help profitability
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Sharp Corp.’s shares rose in Tokyo on an improved outlook for full-year profit results, an early sign of turnaround under its new owner Foxconn Technology Group.
The stock climbed as much as 11 percent to 156 yen in Tokyo trading. Sharp anticipates full-year operating profit and net income to improve “improve drastically” due to efforts to restore profitability and synergies related to its merger with Foxconn in August, the Osaka-based company said in a statement Wednesday.