Sharp expects to return to black in FY 2013

Sharp Corp. said Tuesday that it expects to return to the black in fiscal year 2013 with a group net profit of 5 billion yen, after registering losses for two consecutive years. For the current business year, the company forecasts an operating profit of 80 billion yen on sales of 2.7 trillion yen, up 8.9 percent. For the business year 2012 ending March 2013, Sharp logged a record group net loss of 545.35 billion yen, expanding from a loss of 376.08 billion yen posted in fiscal 2011. The company also reported a consolidated operating loss of 146. 27 billion yen, widening from the previous year's loss of 37.55 billion yen, on sales of 2.48 trillion yen, up 0.9 percent.