Sharp Corp. announced Thursday its group net loss for the business year to March is expected to reach a record ¥450 billion due to shrinking demand for its main products.
The forecast is worse than the ¥376.08 billion group net loss Sharp logged last year and the projection it made in August for a ¥250 billion net loss this year.
"We should have taken much speedier steps to reduce the business risk when the business environment quickly changed," President Takashi Okuda told a news conference in Tokyo.
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