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.
“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
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
In just the last two days, Japanese and U.S. press outlets are releasing a slew of stories of Sharp Corp.’s impending doom in the form of a restructuring announcement that isn’t expected to be officially released until May. Nonetheless, multiple reports have emerged from a wide range of media sources including the Nikkei and Reuters news services with a relatively wide range of estimated job cuts – all citing unnamed sources.
See more on this recent whirlwind of reports on Sharp… [Read more…] about Stunning Stories of Impending Doom Swirl Around Sharp
Canadian tech industry website WiFiHiFi (wifihifi.ca) announced today that it has confirmed that Sharp Corp. will exit the Canadian TV market. Much in line with our recent reporting on the troubled brand, this is probably just the first shoe to drop…there will most likely be more.
See more on what WiFiHiFi has learned about the situation… [Read more…] about Sharp Officially Announces Its Exit from the Canada TV Market
We’ve been reporting for a while now on the epic survival struggles of some of this industry’s biggest brand names in Japan…most recently Sharp Corp. Some of the changes we’re seeing now were unforeseeable even 24-36 months ago – Sony spinning off divisions, JVC Kenwood pulling out of the consumer business, Pioneer first shutting down A/V, then selling that division to Onkyo, Toshiba pulling out of TV biz, Panasonic dropping consumer business, and on and on…
Now a reporter for the respected Bloomberg View asks, “…why Sharp should still be in business?”
See more on this surprising declaration and criticism of the practices of Japan, Inc… [Read more…] about Bloomberg Reporter Asks ‘Why is Sharp Still With Us?’
Out of Osaka, Japan we learn that Sharp Corp. is about to embark on a major restructuring of its business that will likely change the company in fundamental ways. Plans call for closing domestic factories – a first for Sharp – staff cuts, and a possible exit from a major business segment for the company. Sharp is also seeking to raise capital, something that is not easy for a struggling company.
See more on this new announcement from Sharp… [Read more…] about Sharp to Launch Major, and Painful, Restructuring
“Sharp has fallen on hard times again,” declared an at times shocking report in the Nikkei this week. The statement comes in the wake of the company announcing on Tuesday that, rather than their forecast of a profit for the current fiscal year, the company will in fact book a net loss. And this disappointing news will almost certainly drive the call for a much more drastic restructuring than has been accomplished in the past – with the company reportedly considering pulling out of the television business in North America altogether.
See more on this stunning reversal in Sharp’s fortunes… [Read more…] about Sharp Considers Dropping TV Biz in N. America
Sharp Corp. this week began warning the media and, through them, investors that it is likely to miss its forecasts for revenues and profits for the fiscal year set to end March 31, 2015…and miss big. Just days after the International Consumer Electronics Show in Las Vegas where Sharp excitedly showed a large roster of new products, the company is hinting that it may have to take extraordinary steps to stem a newly expected tide of red ink.
See more on this remarkable admission from Sharp… [Read more…] about Company Warns Media & Investors, Sharp Pain is Coming
Like a carefully scripted political debate, Day 0 of CES (Day 1 for most of the press) opened with great fanfare…but offered no real surprises. Day 0 – officially known as Press Day – is an endless series of press conferences in which major manufacturers make their significant announcements and present their plans for 2015. And this year these press conferences, for the most part, followed their expected path – not even a Michael Bay meltdown emerged to spice it up a bit like last year!