Japan's Sharp expects annual operating profit around $385 million: Nikkei
Japan's Sharp Corp expects to post an operating profit of about 40 billion yen ($385 million) this fiscal year helped by cost cuts and a withdrawal from its loss-making North American TV business, the Nikkei newspaper said on Wednesday.
That would mark the first return to the black at the operating level in three years for Sharp, which is rebuilding under new owner Foxconn. The Taiwanese company, formally known as Hon Hai Precision Industry Co, took a two-thirds stake in Sharp in August.
Shares in Sharp jumped 6.4 percent in early trade on the report, outperforming the benchmark Nikkei... read more
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