Sharp Forecasts Profit in Solar, LCD Panels

Sharp Corp., based in Osaka, Japan, expects its annual operating profit to rise 23 percent this year, crediting the LCD and solar cell field markets as its main sources of income, according to an announcement in June. It expects its operating profits to increase to $1.2 billion (97 billion yen) in the year ending March 31, 2012, up from 78.9 billion yen in the year ending March 31, 2011. In the LCD division, it expects to make revenue of 32 billion yen, 87 percent over last year and an increase attributed to the growing demand for the smaller panels used in mobile devices. Sharp also expects profits from solar panels to rise significantly. Overall revenue may rise 0.9 percent to 3.05 trillion yen in the 12 months starting April 1, 2011, up from 3.02 trillion yen reported for the year ending March 31, 2011, the company said.