Jiji Press SAKAI (Jiji Press) — Sharp Corp. will resume dividends at the end of March 2018 to mark its first payouts in six years, President Tai Jeng-wu has said.
In an interview on Tuesday, Tai expressed hope that Sharp will return to the Tokyo Stock Exchange’s first section at the end of this year at the earliest.
Sharp aims to return to the black in fiscal 2017, which ends in March 2018, and distribute rewards to its shareholders, according to Tai.
For the year ending this month, Sharp expects a consolidated net loss of ¥27.1 billion, the third consecutive annual red ink. But the loss will shrink substantially from the previous year’s ¥255.9 billion.
Sharp was demoted to the TSE’s second section in August 2016 after falling into a state of negative net worth on a consolidated basis at the end of March that year.
Thanks to a major capital injection from Taiwan’s Hon Hai Precision Industry Co. in August 2016, Sharp has eliminated its excess debts over assets.