Sharp's net profit quadruples in FY 2020 amid economic recovery

Economy

Sharp Corp. said Tuesday its net profit jumped fourfold in fiscal 2020 from a year earlier to 53.26 billion yen ($489 million) with the gradual reopening of economies hit by the coronavirus pandemic. Operating profit stood at 83.11 billion yen, up 61.5 percent, on sales of 2.43 trillion yen, up 7.2 percent, in the year ended March, according to the unit of Apple Inc.'s key supplier Hon Hai Precision Industry Co. For the current fiscal year through next March, the company expects net profit to rise 42.7 percent to 76 billion yen. Operating profit is projected to grow 21.5 percent to 101 billion...

Kyodo News

Kyodo News