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Sharp eyes ¥80 billion profit by 2015

Kyodo

Struggling Sharp Corp. aims to achieve a net profit of ¥80 billion to ¥90 billion in fiscal 2015 by boosting sales of liquid crystal displays and accelerating streamlining efforts, sources said Friday.

In its medium-term plan through the business year ending in March 2016, Sharp also seeks to achieve an operating profit of around ¥150 billion and sales of more than ¥3 trillion with sales of LCD panels targeted at more than ¥1 trillion, they said.

Sharp is hoping to boost sales of LCDs, one of its sluggish sectors, to South Korea’s Samsung Electronics Co., which has taken a minor stake in the Japanese company under a capital and business tieup.

However, whether the plan will lead to a return to profitability is uncertain, given the fierce price competition for TVs. Sharp’s main creditor banks plan to offer ¥150 billion in fresh loans to help the electronics maker rebuild its business, with Sharp facing repayment of massive debts falling due at the end of September.