Sharp Full-Year Loss Outlook Deepens

HONG KONG--Sharp Corp. (6753.TO) now expects its full-year net loss to deepen to ¥450 billion (US$5.6 billion) from a ¥250 billion loss it had previously forecast, a person with knowledge of the matter said Thursday.

The deeper loss comes on the back of additional restructuring costs and write-offs in deferred-tax assets triggered by a tougher business outlook, the person said.

Despite the hefty net loss, the company expects to swing to an operating profit in the second half of fiscal year, which runs through March 2013, according to the person.

The Japanese maker of television sets and liquid crystal display panels is set to report later Thursday its earnings for its fiscal second quarter through September as well as its forecast for the fiscal year.

Another Japanese electronics giant, Panasonic Corp. (6752.TO), said Wednesday that it expected to fall into the red for a second straight year, with an estimated total loss of more than Y1.5 trillion, or around $19 billion, over two fiscal years.

Write to Juro Osawa at [e-mail]

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