FY2011 Full Year	FY2012 Full Year
		Forecast
			Change (Y on Y)
Net Sales	2,455.8	2,460.0	+0.2%
Operating Income	-37.5	-155.0	-
Net Income	-376.0	-450.0	-
Capital Investment	118.8	90.0	-24.3%
Depreciation and Amortization	238.9	190.0	-20.5%

The financial results forecast for fiscal 2012 remains unchanged from the previous forecast announced on November 1, 2012, with net sales of 2,460.0 billion yen, an operating loss of 155.0 billion yen, and a net loss of 450.0 billion yen.
Net sales for the fourth quarter are expected to be at the same level as the third quarter.
Financial results made steady progress during the third quarter, at a pace slightly faster than our internal projections. However, we are keeping the forecast for fiscal 2012 as a whole unchanged from previously announced figures, considering that orders for mobile application small- and medium-size LCDs are forecast to fall short of our projection in the fourth quarter, and that Japan-China relations have worsened.
Although the financial results forecast for the company as a whole remains unchanged from the previous forecast, figures by product group have been revised. For example, the operating incomes in Audio-Visual and Communication Equipment, Information Equipment, Solar Cells, and Other Electronic Devices were revised upward. Please refer to “Sales and Operating Income by Product Group” for the status of each product group.

Please also note that, in analyzing the factors of change in operating income from the third quarter to the fourth quarter, we expect that the impact of reductions in fixed costs centering on labor costs will contribute to further improvements in profitability.

Also, we are implementing reformation of cost structure, as we previously announced. In order to reduce fixed costs, we are establishing a personnel framework that matches the current sales volume, and reviewing our sales and production bases in Japan and overseas, thus enduring an improvement in profitability.
Through a voluntary retirement program, off-balance-sheet arrangements and other measures, we reduced the number of employees at Sharp Corporation and its consolidated subsidiaries by about 5,400 from the number on March 31, 2012. In addition, we will continue to work on reduction in fixed costs such as outsourcing expenses and advertising expenses.