Sharp Corp. said Wednesday it expects a 2.4-fold increase in net profit for the current business year through next March to ¥50 billion ($473 million) as its supply chains disrupted by the coronavirus pandemic return to normal.
Sharp, a unit of Apple Inc.’s key supplier Hon Hai Precision Industry Co., projects sales to rise 3.5 percent to ¥2.35 trillion and operating profit to soar 55.4 percent to ¥82 billion, with the gradual reopening of economies hit by the virus spread.
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