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Sharp Corp. posted a second straight annual loss and said its liabilities exceeded its assets, highlighting the turnaround challenge facing new owner Hon Hai Precision Industry Co., also known as Foxconn Technology Group.

The net loss was ¥256 billion in the year ended March, from a loss of ¥222.3 billion a year earlier, the Osaka-based company said Thursday. The result compares with the ¥161 billion loss expected by analysts.

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