Sharp 2010 Annual Report Download - page 8

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In fiscal 2008, Sharp suffered its first net loss since becoming a
listed company on the Tokyo Stock Exchange due to the global
recession and financial crisis. We responded to this downturn by
establishing two goals for fiscal 2009: returning to profitability and
putting a new business model in place. We made steady progress
in reorganizing LCD plants and a variety of other measures in our
recovery plan. Most significantly, our total cost reduction cam-
paign surpassed our goal of eliminating ¥200.0 billion from our
annual expenses.
There were two significant events in our transition to a new
business model. In China, we signed an agreement to carry out a
project for production of LCD panels. In Italy, we signed joint
Sharp returned to profitability in fiscal 2009 with operating income of ¥51.9 billion and net income of ¥4.3 billion.
What is your evaluation of Sharp’s performance?
I view fiscal 2009 as a year of many significant accomplishments. We ended our losses by implementing a recovery
plan. We switched to a business model based on local production for local consumption. And we started operations at
our new manufacturing complex, GREEN FRONT SAKAI.
Fiscal 2009 Results of Operations
venture agreements for production of solar cells and for photovol-
taic power generation. These actions were an important first step
toward a local production for local consumption business model
with value chains established where products are consumed.
One more significant event is the start of operations at GREEN
FRONT SAKAI (please refer to Special Feature on pages 12-17),
which will play a central role in Sharp’s growth from now on.
These events explain why I believe fiscal 2009 was a period of
many noteworthy accomplishments.
Q
A
Interview with the President
Interview with the President
SHARP CORPORATION
06