Sharp Discloses Its Plan of Restructuring

Sharp Corporation reported its net sales registered 571.5 billion yen (about US$51 million) in the third quarter of fiscal 2016 (3Q2016, from October-to-December 2016 quarter).

According to the report, Sharp’s net sales in 3Q2016 declined 13.8% compared to the same quarter of fiscal 2015. Likewise, the OEM’s business solution segment decreased to 72.3 billion yen (about US$64 million), down 18.6% year-on-year (YOY).

Sharp added that the sales of its copier/printer segment registered 24.1 billion yen in the third quarter of fiscal 2016, which marked 25.0 billion yen (about US$22 million)in the same quarter of fiscal 2015. Also, sales of multifunction printers were lower in North America and other overseas markets.

In addition to the financial results, Sharp disclosed its plan of the company’s restructuring. “We plan to pivot to initiatives for expanding the size of our businesses, transitioning to a path of growth,” explained Sharp. “During the structural reform stage, we focused on reforms to strengthen the foundations of our business….As you can see, we have reorganized our subsidiaries, spun off our intellectual property and logistics divisions, and restructured our human resources to incorporate role-grade compensation among all employees, as well as to reward good performance.”

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