Aug 22, 2015

3,234 Sharp employees apply for voluntary retirement program

Sharp Corp. said Friday that 3,234 employees have applied for its voluntary retirement program. The figure fell below the 3,500 voluntary retirements that the struggling major consumer electronics maker had targeted. The company will log costs of about ¥24.3 billion ($200 million) for the ...

Jul 31, 2015

Sharp logged group net loss in April-June for fifth straight year

Sharp Corp. said Friday it remained in the red in the April-June period for the fifth straight year with a net loss of ¥33.98 billion due to sluggish sales of liquid crystal displays for smartphones. The Osaka-based electronics maker quickly announced additional restructuring steps, ...

Jul 3, 2015

Ex-chief Machida quits Sharp

Katsuhiko Machida, who had driven Sharp Corp. to the top of the global liquid-crystal display industry, has quit the Japanese company, according to sources. The 72-year-old former president voluntarily resigned as special adviser on June 23, sources said. Machida, who became president in 1998, ...

Jun 30, 2015

Sharp in 'selective default,' S&P says

Troubled electronics maker Sharp is in “selective default,” ratings agency S&P said, the latest blow to the one-time giant as it struggles to repair a tattered balance sheet. The move comes after Sharp announced that it was issuing preferred securities to its main lenders, ...

Jun 23, 2015

Sharp CEO faces calls for resignation as shareholder anger mounts

Sharp Corp. Chief Executive Officer Kozo Takahashi was approved by shareholders on Tuesday after facing calls for his resignation at the struggling Japanese television and display maker’s annual meeting. “Letting the president stay is unacceptable,” one elderly stock-owner said at the meeting in Osaka, ...

Jun 1, 2015

Sharp paid board members more last year despite huge losses

Despite incurring huge losses in its slumping liquid-crystal display and solar panel businesses, struggling electronics firm Sharp Corp. paid its board members more last fiscal year than the previous year, a document showed Monday. Sharp doled out a total of ¥313 million ($2.5 million) ...

Giants Sharp, Toshiba face dire prospects

| May 25, 2015

Giants Sharp, Toshiba face dire prospects

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Several electronics makers have regained profitability largely thanks to restructuring measures and the weakening of the yen, but Sharp Corp. and Toshiba Corp. are unlikely to catch up with their domestic rivals soon. Struggling Sharp’s latest rehabilitation plan got a cold reception from the ...

May 21, 2015

Innovation Network plans to reject Sharp's request for funding

Innovation Network Corp. of Japan plans to reject Sharp Corp.’s request for an investment because of concern it would face opposition from Apple Inc. and antitrust regulators, according to a person familiar with the matter. The state-backed fund already supports Japan Display Inc., which ...

Apr 23, 2015

Sharp's ¥200 billion bailout approved by Mizuho, BTMU

Sharp Corp. has effectively been given the green light to receive ¥200 billion ($1.7 billion) in financial support from its two main creditor banks on condition it engages in more drastic restructuring, sources close to the matter said Thursday. Mizuho Bank and the Bank ...