Results for the Year Ended March 31, 2011 (Fiscal 2010)
Net sales for fiscal 2010 were 3,021.9 billion yen, up 9.7% compared to the previous year. Operating income was 78.8 billion yen, up 52.0%, and net income was 19.4 billion yen, 4.4 times that of the previous year.
In fiscal 2010, Sharp posted restructuring charges of 12.6 billion yen, incurred in conjunction with the conversion of a portion of the production line at the Kameyama No. 2 Plant, which had previously focused on producing large-size LCD panels, to produce small- and medium-size LCDs. This changeover is in response to the rapid growth in demand for high value-added small- and medium-size LCDs for game consoles, smartphones, and tablet terminals.
The severe business environment continued during fiscal 2010, including a trend in exchange rates resulting in the appreciation of the yen, and a drop in market prices due to fierce competition. Nevertheless, the effect of government stimulus packages such as the Eco-Point Program and the launch of uniquely-featured products enabled Sharp to significantly increase its sales and profit compared to the previous year.
However, sales suffered a steep decline in the wake of the Great East Japan Earthquake on March 11, 2011, and this has led actual results to fall short of the forecast announced on October 28, 2010.
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