Sharp posts YoY sales increase

February 7, 2023

The company said that Q3 fiscal 2022 sales were higher year-on-year (YoY) due to growth in its Smart Life and 8K Ecosystem and a recovery in sales for the Electronic Device segment.

Sharp posted net sales for the third quarter of ¥709 billion ($5.4 billion/ €5 billion), a year-on-year increase of +4.9%. Operating profits however fell significantly. The company explained that it was due to the impact of weakened yen and continued sluggishness in Display Device. Despite the decrease, operating profit and ordinary profit remained in the black.

Net sales in the first half year for the 8K Ecosystem segment, which includes Sharp’s printers, were ¥153.8 billion, up 3.3% year-on-year. Sharp said that it saw an increase in MFP business and office solutions business sales that contributed to the results.

Sharp revised its financial results forecast, reflecting the results through the third quarter and the current business environment. The company said: “As we are in the middle of significant structural reform aimed at returning to profitability in fiscal 2023, our disclosure for net sales and operating profit is what we can reasonably calculate at this point.”

Categories : City News

Tags : Business Financials OEM Sales Sharp