Sharp Corp., as we have previously reported, is going through some seriously tough times. Earlier this month, company-connected sources had told the Japanese media that the company would announce drastic restructuring measures, including significant staff cutbacks – not just in export markets, but on their home turf of Japan as well. And while the company went on to officially announce these cuts, it did not take any additional steps to fundamentally restructure their company, disappointing investors who were looking for much more.
Asian Connection
TV Maker Funai Says 2015 is the Year of 4K…Cheap 4K, That Is
Osaka, Japan-based Funai Electric announced earlier this month that it will release a line of inexpensive 4K televisions in the North American market this fall, in time for the region’s major selling season. The company expects this year to be the year when 4K UHD TVs hit it big and they want to be ready to grab market share with their lineup.
Is it time to drive 4K pricing down to attract the masses? Funai says yes… [Read more…] about TV Maker Funai Says 2015 is the Year of 4K…Cheap 4K, That Is
Sources Say Toshiba May Write-Down Profits in Past 3-Years of Financials
Last month, Toshiba Corp. warned the financial markets in Japan that they were launching an internal investigation into “possible problems” with its accounting. The stock exchange’s reaction to the announcement was swift, with the company’s stock price having its biggest one-day drop in value in more than a year. Now unnamed sources are telling the media that the company will have to restate its profits…for a three-year period.
See how hard Toshiba’s profits will be hit… [Read more…] about Sources Say Toshiba May Write-Down Profits in Past 3-Years of Financials
Report: Job Cuts at Sharp are Much Deeper & More Painful than Expected
BREAKING NEWS
“The bigger they are, the harder they fall.” This old saying will likely resonate with many Sharp Corp. employees who are about to learn that the company is planning major job cuts – far greater than originally rumored – as it tries to turn around its struggling operations and cut its losses. The company’s management – whether voluntarily or forced by their banks – seem to be finally ready to take the drastic steps necessary to make a meaningful change at the company.
See how many employees are about to lose their jobs and other measures being taken… [Read more…] about Report: Job Cuts at Sharp are Much Deeper & More Painful than Expected
Onkyo Sets New Global Strategy Focused On Portables & Headphones
Osaka, Japan-based Onkyo Corporation says it has set a new global growth strategy that will focus on launching portable music players and headphones, thanks largely to resources it received in its acquisition of Pioneer’s home AV division. In an interview appearing in Japanese media, Onkyo President Munenori Otsuki said the world is entering “the age of portable music players.”
See more on this surprising shift of direction from a significant audio industry player… [Read more…] about Onkyo Sets New Global Strategy Focused On Portables & Headphones
Samsung Removes Its Brand Name From Smartphones Sold in Japan
Samsung Electronics has taken the unusual step of selling smartphones in Japan that do not bear the Samsung brand name. We’ve never heard of this before, but if you want a Samsung smartphone in Japan, you have to purchase a “Galaxy” smartphone.
Why has Samsung removed their brand name from smartphones sold in Japan? See more… [Read more…] about Samsung Removes Its Brand Name From Smartphones Sold in Japan
JVC Kenwood Restructuring Produces Profits, But Sales Slide Continues
JVC Kenwood Corp. released a summary of results for their fiscal year 2015, the year that ended March 31, 2015, and we continue to see positive profit results from their rather dramatic company-wide restructuring that had them abandoning many consumer categories and refocusing on more commercial enterprises. But we also see a continued and persistent slide in sales that shows no sign of slowing down.
So just how did the company fare last year? See below… [Read more…] about JVC Kenwood Restructuring Produces Profits, But Sales Slide Continues
Tesla’s Musk Not Only Wants to Power Your Car, but Your Home Too
Residential & Commercial Energy Storage is a Fast Growing New Market
Two separate announcements this week add significant momentum to a rapidly growing market we first told you about three years ago – the residential energy storage market. Now, two new announcements – one from Toshiba in Japan, and the other from home-grown Tesla, dramatically reveal the increasing interest in this all-new market for residential energy storage devices.
See more on what Tesla’s Elon Musk and Toshiba are working on… [Read more…] about Tesla’s Musk Not Only Wants to Power Your Car, but Your Home Too
Whew! First Hurdle Cleared: Banks Say They’ll Help Sharp
If you’ve been holding your breath, waiting to see what is going to happen to troubled Japanese giant Sharp Corp., you can now relax and exhale. The first significant hurdle the company faced on their race to survival appears to be cleared. Media in Japan is now reporting that Sharp’s two banks will support it through a restructuring with a ¥200 billion convertible loan.
But these bank loans come with strings attached. Read on to see what these are… [Read more…] about Whew! First Hurdle Cleared: Banks Say They’ll Help Sharp
Sharp Expected to Report 200 Billion Yen Loss
BREAKING NEWS
In a new report out of Japan today, Sharp Corp. is said to be preparing to report a loss of “more than 200 billion yen” or about $1.66 billion, when they finally release their fiscal year-end results. This report is based on unnamed sources and appeared in the Nikkei.
