OSAKA -- Sharp plans to downgrade its forecast to a 30 billion yen ($251 million) net loss for the fiscal year ending March 31, a reversal from the 30 billion yen profit projected earlier, due to sluggish sales, a weak yen and higher restructuring costs.
Operating profit will likely sink 54% to 50 billion yen, about half the old forecast. Sales are seen falling 100 billion yen below the projection and could now drop 4% to 2.8 trillion yen.
