Japan's Sharp to sell Kameyama LCD plant to Hon Hai
Sharp said Monday that it will sell its small and midsize liquid crystal display panel plant in Kameyama, Mie Prefecture, to its Taiwanese parent, Hon Hai Precision Industry.
The Kameyama No. 2 plant will be transferred to Hon Hai by August 2026.
Sharp aims to focus its business resources on competitive fields by downsizing the LCD panel business, which has been operating in the red.
Even after the transfer, sales of products from the plant ordered by current clients will continue, Sharp President Masahiro Okitsu told an online press conference.
Sharp will continue producing highly profitable automotive LCD panels at its Kameyama No. 1 plant.
In addition, Sharp plans to move its headquarters to the city of Osaka from the city of Sakai, both in Osaka Prefecture.
Also on Monday, the company announced a consolidated net profit of ¥36 billion in fiscal 2024, which ended in March this year, against the previous year's loss of ¥149.9 billion. It secured its first profit in three years thanks to positive effects of restructuring measures and profits from the sale of some assets.
Due to its sluggish business performance, Sharp halted the operations of its television LCD panel factory in Sakai in August last year and sold part of the land and buildings to SoftBank.
In the latest year, Sharp's overall sales declined 7.0% from the previous year to ¥2.16 trillion, while it swung to an operating profit of ¥27.3 billion from the previous year's loss of ¥20.3 billion.
The company expects to post sales of ¥1.85 trillion for fiscal 2025, down 14.4%, and net profit of ¥10 billion, down 72.3%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
4 hours ago
- Nikkei Asia
Kao offers halal deodorant, sunscreen to win Indonesian consumers
JAKARTA/TOKYO -- Japan-based cosmetics giant Kao is pushing deeper into the market for halal goods in Indonesia, home to the world's largest Muslim population, responding quickly to demand for certification as it seeks to reach the world's 1.8 billion Muslims. "Indonesia could be said to be at the core of our global business," Kao President and CEO Yoshihiro Hasebe told Nikkei in an interview in Jakarta on Tuesday.
9 hours ago
Ishiba Says Japan, U.S. Apart in Tariffs Talks
News from Japan Politics Jun 12, 2025 20:59 (JST) Tokyo, June 12 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba told opposition leaders on Thursday that Tokyo and Washington are considerably apart in negotiations over U.S. tariffs, people familiar with the conversations said. Ishiba said the Japan-U.S. negotiations are focused on investment rather than tariffs, adding that Tokyo will not rush into a quick agreement with Washington at the risk of undermining its national interests. He said that Japan focuses on mutual interests, economic security and the expansion of bilateral trade. Japan will not sacrifice agricultural products for automobiles, he said. Ishiba held the talks with opposition leaders to win support from them over the tariff negotiations. He apparently thinks that winning cooperation with them will help him avert a no-confidence motion. Leaders of opposition parties who met with Ishiba on Thursday included Yoshihiko Noda of the Constitutional Democratic Party of Japan, Seiji Maehara of Nippon Ishin no Kai (Japan Innovation Party) and Yuichiro Tamaki of the Democratic Party for the People. [Copyright The Jiji Press, Ltd.] Jiji Press
Japan Times
10 hours ago
- Japan Times
Sumitomo Realty seeks $700 million office sale amid Elliott push
Sumitomo Realty, the Japanese developer facing pressure from Elliott Investment Management to boost its value, is seeking to sell a group of office properties in Tokyo for at least ¥100 billion ($700 million), according to people with knowledge of the matter. The developer has earmarked 19 midsized office buildings for the divestment. It has asked real estate investment firms and agencies to estimate the value of the offices, which it is considering selling separately, the people said, asking not to be identified because the matter is private. It is also weighing the sale of eight rental apartment buildings in the city, they said. Representatives for Sumitomo Realty weren't immediately available for comment. After taking a stake in Sumitomo Realty, Elliott said this week that the Tokyo-based company should do more to improve shareholder returns and corporate governance. The sale plans mark a shift from its business model of developing properties in-house, holding them for the long term, and earning steady income from tenants, toward a strategy targeting capital gains. In a rare public letter, Elliott said it would vote against Sumitomo Realty's senior management at an annual shareholder meeting on June 27 if no meaningful progress is made on improving its value. It called on the developer to unwind its cross-shareholdings, increase its shareholder payout ratio to 50% or more and target a return on equity of at least 10%. Elliott has built up more than a 3% holding in the company, according to the letter.
