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Sharp group set for return to black in 2nd half of this fiscal year
(Japan Economic Newswire Via Acquire Media NewsEdge) OSAKA, March 19 -- (Kyodo) _ Sharp Corp. is expected to return to the black on a group operating balance in the second half of this fiscal year following an increase in orders for liquid crystal display panels, an informed source said Tuesday.
Becoming profitable in the six-month period from October to March was one of the two major conditions for the struggling electronics maker to receive assistance from financial institutions.
Attention now shifts to whether the Japanese maker's net balance can move into the black in the next business year starting in April, another condition for securing financial assistance.
Sharp's production of LCD panels grew during the second half of fiscal 2012 after it won a long contract from Samsung Electronics Co., according to the source.
Sharp returned to the black on a group operating balance in the October to December period for the first time in five quarters, thanks to restructuring efforts.
But there were concerns over Sharp's business slump in the last quarter, as Apple Inc. significantly reduced its display orders from its initial plan.
Sharp's business outlook for the next fiscal year is scheduled to be released next month when the Osaka-based company announces its earnings report for fiscal 2012.
(c) 2013 Kyodo News International, Inc.
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