Shares of Sharp Cop fell sharply as the electronics maker forecast a 32% drop in net profit for the year, citing a deterioration in the market for LCD screens.
The company’s share fell to 8.7% while it somewhat reduced the losses afterwards, to reach -7.3%.
Sharp said after the close of trading on Wednesday that it expects net profit to fall to 50 billion yen ($ 372.4 million) for fiscal year 2023, up from 73.99 billion yen a year ago. time.
It also predicts that revenues will increase to 2.7 trillion. yen from 2,496 trillion. yen, while expecting that the impact of distortions in the supply chain will continue and the cost of processors and raw materials will remain high for the time being.
Source: Capital
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