Results for the Three Months Ended June 30, 2009
|The business environment in fiscal 2008 was extremely harsh as a result of the global recession triggered by the financial crisis, which forced Sharp to record losses for the fiscal year for the first time since the Company listed its stock.
Under such circumstances, we have taken various measures to establish a structure capable of generating profits even if the difficult business conditions persist. These include increasing sales with the creation of uniquely-featured products and pushing ahead with a recovery plan, which was announced in February 2009. Under this recovery plan, we are promoting personnel reallocation, reorganizing our LCD plants and reducing total costs by 200.0 billion yen.
As a result of the increase in sales beginning in this quarter and reduction in total costs, we were able to return to profitability at the operating level for the month of June 2009. However, we recorded losses for the first quarter as a whole.
Net sales were 598.2 billion yen, up 8.9% from the previous quarter.
Operating loss decreased significantly by 64.3 billion yen to 26.0 billion yen, compared to 90.3 billion yen recorded in the previous quarter.
Net loss decreased 62.8 billion yen from the previous quarter to 25.2 billion yen. Restructuring charges decreased 26.0 billion yen to 9.6 billion yen, compared to 35.6 billion yen recorded in the previous quarter.