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November 4, 2011

Notice Regarding Changes in English Translation of "Consolidated Financial Results for the Second Quarter Ended September 30, 2012"

Regarding the "Consolidated Financial Results for the Second Quarter Ended September 30, 2012," Sharp has changed the English translation described on Page 4, item 3 "Outline of material events relating to assumed going concern" to inform our status more precisely. Please see the below underlined part for the changes.


(Updated Description)
3. Outline of material events relating to assumed going concern
As we have announced a revision of consolidated results for the six months ended September 30, 2012 and the financial results forecast for the year ending March 31, 2013, and our rating dropped, it became difficult to issue commercial papers. As operating and net loss for the six months ended September 30, 2012 were huge, continuing from the previous year, cash flows from operating activities were negative. Therefore, there exist conditions which might raise uncertainties about Sharp being an assumed going concern. However, we judge that no uncertainties about Sharp's ability to continue as a going concern will exist. The countermeasures described below are thought to resolve such conditions.
  We will restructure business further, aiming to be a life style creating company and instituted measures to reinforce business foundations, generating cash flows by decreasing expenses including personnel expenses such as calling for voluntary retirement and cutting salaries, setting proper inventories, selling assets and reducing capital investments. As a result, we will secure the necessary credit line, supported by financial institutions, and attempt to improve business performance and regain trust by monitoring the progress of this plan and implementing it steadily.


(Previous Description)
3. Outline of material events relating to assumed going concern
As we have announced a revision of consolidated results for the six months ended September 30, 2012 and the financial results forecast for the year ending March 31, 2013, and our rating dropped, it became difficult to issue commercial papers. As operating and net loss for the six months ended September 30, 2012 were huge, continuing from the previous year, cash flows from operating activities were negative. Therefore, Sharp is in circumstances in which material doubt about its assumed going concern is found.
  To overcome these circumstances, we will restructure business further, aiming to be a life style creating company and instituted measures to reinforce business foundations, generating cash flows by decreasing expenses including personnel expenses such as calling for voluntary retirement and cutting salaries, setting proper inventories, selling assets and reducing capital investments. As a result, we will secure the necessary credit line, supported by financial institutions, and attempt to improve business performance and regain trust by monitoring the progress of this plan and implementing it steadily.
  By implementing these specific countermeasures, we judge that Sharp is not in circumstances in which material doubt about its assumed going concern is found.


Consolidated Financial Release for the Second Quarter Ended September 30, 2012 (PDF: 936KB)

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