New Management Team Starts
Increasing Profits for 10 Consecutive Years
In the autumn of 1985, the surge in the value of the yen resulted in a sudden downturn in Japan's exports. Sharp remained committed to developing innovative products and, when the business performance of competitors plummeted in 1986, it posted increased sales and profits over the previous year. This marked the 10th straight year of growth for the company.
Chairman Akira Saeki and President Haruo Tsuji
On June 27, Akira Saeki, Sharp's president who had seen the company through many eventful years and had charted its course toward globalization, was appointed chairman. Haruo Tsuji, then senior executive director was selected as the new president. A new management team was now in place, with the experience and wisdom to guide Sharp Corporation through the 90s.
New Business Approach to Deal with the Stronger Yen
The new management team's most pressing task was to restructure and adapt to the challenges of the stronger yen. Measures were implemented to increase management efficiency. Special attention was given to the various fields of information, communications and electronic devices, which were expected to experience high growth in the years to come. Other measures included increasing domestic demand for the company's products, shifting production overseas, and developing distinctive products and new technologies.
Central Position for LCD Devices
As part of this strategy, Sharp launched the Liquid Crystal Display Group and established Liquid Crystal Display Laboratories within the Corporate Research and Development Group. The company felt that the LCD, which it had pioneered, would be a key electronic device and source of new demand for years to come. As a result, the technology was given the highest priority in the new corporate structure.
New technologies and products developed by Sharp in 1986 included a quantum well laser diode with the world's smallest current density threshold (the current per square centimeter needed to emit a signal) and the "U's" series of products for working wives.
Adding Overseas Bases
In 1986, Sharp also expanded its overseas operations. Sharp Electronica Espana S.A. (SEES) was established in Spain to manufacture color TVs and market Sharp's products. Two other companies were also launched, one in the US to design and develop VLSI chips and a production company in Taiwan to manufacture electronic components.