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5
Annual Report 2011
Message to Our Shareholders
First, we offer our sincere condolences to victims of the
Great East Japan Earthquake of March 11, 2011, and we
are wishing for the speedy recovery of all afflicted areas.
In fiscal 2010, ended March 31, 2011, the Japanese
economy showed signs of a partial turnaround, buoyed
by the Eco-Point Program and other government meas-
ures to stimulate demand, as well as growing demand
in emerging countries. Overall conditions remained chal-
lenging, however, due to the strong yen and falling
market prices stemming from intensified competition
in digital products, particularly in LCD TVs, coupled with
the huge damage caused by the Great East Japan
Earthquake. Overseas, Asian markets continued show-
ing strong growth, especially China, and Europe and the
United States posted generally moderate recovery.
However, a strong sense of uncertainty continued, due
largely to soaring crude oil prices amid political instabil-
ity in the Middle East and North Africa.
Under these circumstances, Sharp sought to create
one-of-a-kind devices and products by leveraging its dis-
tinctive technologies. At the same time, we strove to
enhance our international competitiveness by promoting
our local production for local consumption business
model, in which we manufacture and sell products tai-
lored to market needs in the areas where they will be
consumed.
In the lead-up to its 100th anniversary in 2012, Sharp
is pursuing two business visions: “Contribute to the
world with environment and health conscious business,
focusing on energy-saving and energy-creating prod-
ucts” and “Contribute to ubiquitous society with
one-of-a-kind LCDs.” We have also set a corporate
vision of becoming an Eco-Positive Company commit-
ted to the twin objectives of contributing to the
environment and promoting economic activities through
our electronics business.
Regarding fiscal 2011, we expect the situation to
remain unpredictable, given such concerns as the
impact of the Great East Japan Earthquake on the sup-
ply chains of manufacturers, restraint in consumer
spending stemming from the quake, and the rising
prices of natural resources. In response, we will work to
ensure stable production by securing necessary parts
and components, while focusing on creation of unique
energy-saving and energy-creating products for which
growth in demand is anticipated. These include home
appliances that consume less electricity and solar-
applied products. We will also work to undertake
business restructuring and make rigorous, group-wide
cost-cutting efforts to further reinforce our business
foundations. In addition, we will make efforts to raise
corporate value by taking steps to expand our CSR activ-
ities group-wide, including enhancing and strengthening
our corporate governance, helping to preserve the glob-
al environment, and enforcing compliance in business
management. We look forward to your ongoing sup-
port and understanding.
July 2011
Chairman President