Sharp Corporation (“the Company”) announces the revision of its consolidated financial results forecast for the year ending March 31, 2020 as follows. Previous forecast was announced on February 4, 2020.
1. Revision of financial results forecast
Revision of the consolidated financial results forecast for the year ending March 31, 2020 (April 1, 2019 to March 31, 2020)
*The Company completed the acquisition and cancellation of 108,000 Class A shares on
June 21, 2019. The figures for the net income per share are calculated considering the
effect of this transaction.
2. Reasons for the revision
The Company has revised the forecast for net sales, operating profit, and profit attributable to owners of parent for the year ending March 31, 2020 downward from the forecast originally announced on February 4, 2020. The reasons for the revision are based on the impacts of the infection spread of the new coronavirus since the end of January (such as production slowdown in customers’ factories for the Company’s device business including displays, as well as constrained production, distribution and sales activities for the Company’s product business), the increase in the retirement benefit expenses, and the reporting of the loss on valuation of investment securities.
Have news to share? We want to help you spread the word. Submit your media releases to email@example.com. Please submit releases in Word or text docs or in the body of an email. Please do NOT send PDF documents.