Japan’s Sharp posts narrower loss for the 12 months, charge cuts paying off FILE PHOTO

FILE PHOTO: People walk past an advertisement for Sharp Corp's Aquos television outside an electronics retail store in Tokyo, Japan, March 30, 2016. REUTERS/Yuya Shino/File Photo

Sharp Corp on Friday reported a narrower annual loss for the 12 months resulted in March, as a cost-cutting force by way of Taiwanese proprietor Foxconn began to turn effects.

The liquid crystal show producer booked an annual web lack of 24.nine billion yen ($224.04 million), a lot lower than the 255.97 billion loss the former 12 months.

The consequences beat expectancies for a 28.four billion yen loss forecast by way of a median of 9 analysts surveyed by way of Thomson Reuters.

Within the fourth quarter, web benefit was once 16.2 billion yen, marking the second one consecutive successful quarter after two years of losses.

Sharp mentioned it’s going to give its outlook for the present fiscal 12 months on Would possibly 26, with Government Vice-President Katsuaki Nomura pronouncing that it was once “herbal” that the corporate could be successful within the present fiscal 12 months.

The corporate is thinking about making an investment within the chip unit of beleaguered Jap conglomerate Toshiba, even supposing not anything had but been made up our minds, Nomura mentioned. Following its a success acquisition of Sharp remaining 12 months, Foxconn is bidding for the unit, which is the arena’s second-largest NAND chip maker in the back of Samsung Electronics Co Ltd.