TOKYO, April 28 Sharp Corp on Friday
reported a narrower annual loss for the year ended in March, as
a cost-cutting drive by Taiwanese owner Foxconn
started to show results.
The liquid crystal display manufacturer booked an annual net
loss of 24.9 billion yen ($224.04 million), which was much less
than the 255.97 billion loss the previous year.
The results beat expectations for a 28.4 billion yen loss
forecast by an average of nine analysts surveyed by Thomson
In the fourth quarter, net profit was 16.2 billion yen,
marking the second consecutive profitable quarter after two
years of losses.
Sharp said it will give its outlook for the current fiscal
year on May 26.
Executive Vice-President Katsuaki Nomura told reporters it
was considering investing in the chip unit of beleaguered
Japanese conglomerate Toshiba, although nothing had yet
Following its successful acquisition of Sharp last year,
Foxconn is bidding for the unit, which is the world's
second-largest NAND chip maker behind Samsung Electronics Co Ltd
($1 = 111.1400 yen)
(Reporting by Sam Nussey; Editing by Randy Fabi)