Sharp Corp. said Tuesday it expects to post its first operating profit in three years in the current business year through next March, helped by restructuring efforts under the ownership of Taiwan's Hon Hai Precision Industry Co.

Consolidated operating profit is expected to recover to ¥25.70 billion, a turnaround from a ¥161.97 billion operating loss in fiscal 2015.

The upbeat outlook comes as Sharp has been taking a series of restructuring steps under Hon Hai, which completed the takeover of the Japanese electronics maker in August.