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General

Sharp replaces management as losses grow

Tuesday 14 May 2013 | 10:02 CET | News
Sharp has announced a change in its top management, after reporting a second year of major losses. The net loss at the Japanese electronic company swelled to JPY 545.3 billion in the year to March, from JPY 376.1 billion a year earlier. This included almost JPY 100 billion in one-time charges, to write down the value of its LCD and TV businesses, restructure its solar cell activities and take a provision for a civil lawsuit over the management of its LCD business. Sharp said its president Takashi Okuda will step down at the AGM in June and become non-executive chairman. He will be replaced by

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Categories: General
Companies: Sharp
Countries: World
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