Sharp Admits ‘Doubt’ on Survival
Sharp has admitted there is “material doubt” about its ability to stay in business as it warned of a second year of record losses, deepening the gloom surrounding Japan’s once dominant consumer electronics industry.
The century-old company said it expected to end the financial year to March with a net loss of Y450bn ($5.6bn), worse than the Y250bn loss it had predicted in August. Last year it lost Y396bn. The losses are blamed on failed investments in liquid-crystal display manufacturing.
The warning came a day after Panasonic stunned investors by projecting