TOKYO May 1 Sharp Corp Japan's leading
maker of liquid crystal displays posted a worse than forecast
500 billion yen ($5.1 billion) net loss in the year that ended
March 31 as panel plants asset write offs crimped its bottom
line, two sources with knowledge of the earnings result said.
Lower than anticipated production levels have left the
company with excess capacity, the sources said on condition they
were not identified. Sharp will also book charges to put aside
cash to cover possible fines stemming from a panel cartel
investigation in Europe, they added.
The expanded loss was first reported in the Nikkei business
Sharp's operating profit for the second half of its business
year was 20 billion yen compared with the company's forecast for
13.8 billion yen, the sources said.
($1 = 97.4100 Japanese yen)
(Reporting by Reiji Murai; writing by Tim Kelly)