Sharp Plans to Return to Profit Next Fiscal Year, Okuda Says
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Sharp Corp., the Japanese TV maker firing 5,000 workers after forecasting a second straight loss, said it plans to post a profit next fiscal year with the help of job cuts and cost reductions.
“We will achieve structural reforms without fail,” President Takashi Okuda told employees today, according to an e-mailed statement from Sharp, which didn’t provide a specific forecast. The net-income forecast for next year contrasts with the 9.6 billion-yen ($124 million) average loss forecast of nine analyst estimates compiled by Bloomberg.