Sharp has admitted “material doubt” about its ability to stay in business as it warned of a second year of record losses, deepening the gloom surrounding Japan’s once-dominant consumer electronics industry.
The century-old company said it expected to end the financial year to March with a net loss of Y450bn ($5.6bn), worse than the Y250bn loss it had predicted in August. Last year it lost Y396bn.
Failed investments in liquid-crystal display manufacturing are to blame for the losses.
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