The "Dollar Shock"
In 1971, a decline in Japan's business climate worsened, exacerbated by measures taken in the United States to protect the dollar. This crisis was dubbed the "dollar shock" in Japan. Manufacturers of electrical goods saw their products lose competitiveness in international markets due to a change in value of the yen, and domestic demand was stagnant. It was a year of austerity for manufacturers.
Expansion into the Office Products Field
In anticipation of Sharp's 60th anniversary in 1972, a "60 products" line was launched, designed to secure market position. These included color televisions featuring the Linitron picture tube, an improved version of conventional shadow master type units, and microwave ovens equipped with a browning function. Sharp also strove to make serious inroads into the office equipment market, developing the HAYAC-3000 microcomputer as a satellite machine for large-scale systems, and introducing an electronic cash register.
Expanding Overseas Bases of Operation
Redoubled competitiveness overseas was also undertaken by setting up several international ventures. These included Sharp do Brasil S.A. Industria de Equipamentos Eletronicos (SDB), joint production company in Manaus, Brazil, and Sharp Corporation of Australia Pty. Ltd. (SCA), a company established to market Sharp products in Australia.
Getting into the Photocopier Business
In 1972, Sharp entered the photocopier business, an area where high growth was anticipated in the years to come. The company brought to market an electronic wet-toner copier the same year.
Consolidation of Sales Companies
In order to improve Sharp's competitive position and to ensure that its marketing companies throughout Japan could concentrate on their primary assignment, the company began consolidating the separate companies and boosting management efficiency. A total of 61 sales companies all over the country (except Okinawa) were reorganized to create 16 sales companies and 73 sales centers. This was to be the basis of Sharp's new corporate marketing system for electric home appliances.
Putting the Customer First
Sharp also instituted a program to provide better support in response to requests from customers for repairs or advice on how to use the electrical products they had purchased. Ten Consumer Information Centers were set up throughout Japan to implement these goals and to provide a route for feedback from customers to Sharp's product development teams.