Sharp narrows six-month losses, buoyed by weaker yen, good demand
TOKYO Oct 31 (Reuters) - Japan's Sharp Corp said it came close to returning to profit in the first six months of its fiscal year as a weak yen and revived demand for its goods boosted the consumer electronics supplier's turnaround drive.
Sharp, a supplier of panels for Apple Inc 's iPhone, said on Thursday its net loss for the April to September period shrank to 4.33 billion yen ($44 million) from 387.6 billion a year earlier.
Sharp has been scrambling to patch up its finances after suffering a 545 billion yen net loss last year due to strong competition from foreign rivals and pressure on its overseas revenues from a strong yen.
Its $4.6 billion rescue by banks last year is contingent upon Sharp posting both an operating and net profit for the full year. On Thursday the company left its net profit forecast for the fiscal year through March 2014 unchanged at 5 billion yen.
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