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More bad news for Sharp

March 9, 2015

I wrote a blog about Sharp a while back. https://theconnectedcopier.wordpress.com/2012/10/23/sharp-denies-rumours-that-they-are-selling-their-copier-division/ Sharp denied the rumors.

But the bad news keeps on rolling in for Sharp.

Here are some quotes from a BloombergBusiness Article:

“Sharp’s core business is as bad as it could get,” said Atul Goyal, a senior analyst at Jefferies Group LLC in Singapore.”

“Shares of Sharp fell 5.3 percent, the most since Jan. 19, to 232 yen in Tokyo, widening their decline to 13 percent this year.”

“Japan’s Rating and Investment Information downgraded the consumer-electronics maker to B- from B+”

“Hurdles to Sharp Corp.’s restructuring are becoming even higher.”

“The newspaper also reported that Sharp’s fiscal 2015 net loss may reach 100 billion yen, and the company may shut its Mihara chip plant and exit its solar business.”

“Standard & Poor’s cut its credit rating on Sharp to CCC+ with a negative outlook”

“In 2012, when the company should’ve been celebrating its 100th anniversary, executives were releasing the company’s worst financial results ever (nearly $5 billion of losses)….the bleeding has not stopped. Sharp is forecasting a $251 million loss in the 12 months ending March”

My Comments start here:

I am betting that the people who complained the loudest about the opinions I expresses in my 2012 blog article have already found there way to the exit.

The burning question that once again rears it’s ugly head is what will become of Sharps MFD (Copier) Business? It has value, so who will buy it?

Makes you go Hmmmm?

That’s my $0.02

Vince McHugh

vince.mchugh@yahoo.com

 

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