January 7, 2013 / 6:05 AM / 5 years ago

Sharp president: Oct-Dec operating profit better than forecast

OSAKA, Japan, Jan 7 (Reuters) - Japan’s Sharp Corp had a better-than-expected operating profit for the October-December quarter due to higher year-on-year sales, particularly in large household appliances, its top executive said on Monday.

A rise in profit in the second half of its business year ending March 31 would allow banks to justify fresh financing, after the Osaka-based company won a $4.4 billion bailout from its lenders in October.

The maker of Aquos brand TVs warned in November it might not be able to survive on its own after it doubled its full-year net loss forecast to $5.6 billion.

Sharp’s president, Takashi Okuda, also told a group of reporters in Osaka that the consumer electronics maker was still in talks with Taiwan’s Hon Hai Precision Industry Co Ltd over getting a capital investment.

Sharp has been in talks for months with Hon Hai to make the Taiwanese company its biggest shareholder. Talks, however, stalled after Hon Hai said it expected a say in Sharp’s management in return for its investment. (Reporting by Yoshiyuki Osada; Writing by James Topham; Editing by Chris Gallagher)

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