Sharp Result 31/07/15

Sharp recorded Q1 net losses of ¥34.0 billion ($273 million), up on losses for the same quarter last year of ¥1.8 billion ($14 million), on revenue which slipped to ¥618.3 billion ($4.98 billion) from ¥619.7 billion ($4.99 billion). The company said that this was the result of planned production adjustments, the prioritisation of sales of existing inventory for small and medium LCDs and structural reform costs, including those relating to reduction in the distribution inventory of LCD TVs. Sales of display devices fell 9% to ¥187.8 billion ($1.5 billion) from ¥206.9 billion ($1.66 billion).