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May 30, 2015 5:03 PM ET

Household Durables

Company Overview of Sharp Corporation

Company Overview

Sharp Corporation manufactures and sells consumer/information products and electronic components in Japan and internationally. The company’s digital information equipment comprise audio-visual and communication equipment, including LCD color televisions, color televisions, projectors, Blu-ray disc recorders and players, mobile phones, tablet terminals, electronic dictionaries, calculators, facsimiles, telephones, etc. Its health and environment equipment include refrigerators, superheated steam ovens, microwave ovens, small cooking appliances, air conditioners, washing machines, vacuum cleaners, air purifiers, air fans, dehumidifiers, humidifiers, plasmacluster ion generators, electric heate...

22-22 Nagaike-cho

Abeno-ku

Osaka,  545-8522

Japan

Founded in 1912

Phone:

81 6 6621 1221

Key Executives for Sharp Corporation

Sharp Corporation does not have any Key Executives recorded.

Sharp Corporation Key Developments

The State of Washington Reaches $63 Million Agreement with Samsung, AU Optronics, Sharp, Epson, Toshiba, LG and Hatachi

The State of Washington has reached a $63 million agreement with nine LCD manufacturers accused of fixing prices for products ranging from flat-screen televisions to computers and cellphones. If a King County Superior Court judge approves the agreement during a May 22 hearing. The state filed a lawsuit in 2010 against a list of companies that make products that use a liquid crystal display, or LCD. The lawsuit claimed these companies conspired to fix prices between 1998 until 2006. The scheme may have increased the prices that customers paid by as much as 20%. The LCD panel can account for 80% of the cost of a device. Larry Gangnes, a Seattle lawyer representing Samsung, declined to comment on the case. Messages left for lawyers with the other companies were not immediately returned. Under the agreement, Samsung would pay the state $12.94 million and AU Optronics $12.5 million. Sharp, Epson and Toshiba also agreed to pay between $950,000 and almost $7 million. Two other companies, LG and Hatachi, had previously reached an agreement in the case for $13 million and $5.2 million, respectively. Eight of the nine companies involved in the case had previously pleaded guilty or were convicted of federal criminal price-fixing charges filed by the U.S. Justice Department. Most of the money will be returned to consumers who purchased the products.

Sharp Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended March 2015

Sharp Corporation reported earnings results for the fourth quarter and full year ended March 2015. For the quarter, the company reported operating loss of JPY 99.3 billion compared with an operating profit of JPY 27.1 billion a year before, while sales were down 9.6% to JPY 695.8 billion. The company booked a net loss of JPY 229.5 billion, compared with a net loss of JPY 6.2 billion in the same period last year. For the year, the company posted a net loss of JPY 222.3 billion compared with a net profit of JPY 11.6 billion a year before. The company reported operating loss of JPY 48.1 billion compared with an operating profit of JPY 108.6 billion for a year before, while sales fell 4.8% to JPY 2.79 trillion.

Sharp Corp. Announces Job Cuts

Sharp Corp. announced a turnaround package featuring a cut of a total of some 5,000 jobs in and outside Japan, or 10% of its global workforce. The company will also reduce its capital to JPY 500 million from JPY 121.8 billion to wipe out its cumulative deficits resulting from its sluggish liquid crystal display panel and television set businesses. In Japan, the company will shed 3,500 jobs, or about 15% of its domestic payroll, through voluntary redundancy. It will cut 1,500 jobs abroad.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
May 14, 2015
--
Merger/Acquisition
December 19, 2014
Sharp Manufacturing Poland Sp. z o.o.
Merger/Acquisition
July 23, 2014
3SUN S.r.l.
 

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