The company has published its consolidated financial results for the fiscal year ending 31 March 2018, recording a significant Y-o-Y improvement.
The financials reveal that Sharp experienced a rise in net profits of 18.4 percent, from ¥2.05 trillion ($18.7 billion/€15.4 billion) in 2016 to ¥2.4 trillion ($21.9 billion/€18.04 billion) in 2017, with all segments reporting revenue growth.
Operating profits also showed a significant improvement, with the company achieving ¥90.1 billion in comparison to ¥62.4 billion ($571.1 million/€469 million) in 2016, an increase of 44.3 percent.
Sharp’s Smart Business Solutions achieved sales of ¥331.1 billion ($3.03 billion/€2.4 billion) in FY2017, compared to ¥317.7 billion ($2.9 billion/€2.3 billion) in 2016, while the company’s IoT Electronics Devices segment achieved sales of ¥491.5 billion ($4.4 billion/€3.6 billion), compared to 2016’s ¥413.6 billion ($3.7 billion/€3.1 billion).
Sharp reported that its Q4 2017 net sales “continued to show strength, outperforming the same period in the prior fiscal year”, while operating and ordinary profit “were essentially level when excluding ¥15.6 billion ($142.8 million/€117.2 million) in temporary factors”, and net profit “was level year on year, due in part to structural reforms”.
Looking ahead to 2018, the company forecasts “medium-term management plan progress”, predicts that FY2018 net sales and profits will outperform FY2017, and states that it expects “to achieve our medium-term projections” despite selecting more conservative foreign exchange rate projections than set out in its medium-term management plan.
