On Friday last week Sharp Corp released its mid- year and full-year forecasts for the current financial year through to March 2018. The company expects to make an operating profit of 1.1 trillion Japanese yen between April and September this year, an increase of 19.6 percent on last year’s figure of 919.6 billion yen. In the first half of this financial year, Sharp’s expects operating profit to reach 37 billion yen, a whopping 467 percent increase on last year’s figure of 79 million yen. After the company was taken over by Taiwan’s Hon Hai Precision Industry Co (Foxconn) during the first half of this financial year, Sharp is now forecasting a return to net profit of 25 billion yen, a dramatic return to profitability from last year’s loss of 45.4 billion yen. Additionally, Sharp’s share price has jumped from 16.3 yen one year ago to 36.49 yen.

Source: Taipei Times May 29, 2017 16:17 UTC