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Foxconn

Sharp reported its earnings

  • Division of Hon Hai Precision of Taiwan (aka Foxconn)
  • Was hit by the “global spread of COVID-19 in an extremely severe business environment”
  • Net sales down 5.2% to 2,271.2 billion yen for fiscal 2019
  • Operating profit down 37.3% to 52.7 billion yen
  • Net profit down 71.8% to 20.9 billion yen
  • 4th quarter net sales down 18% to 515.6 billion yen
  • In US, reported decline in print volumes and service revenue
  • ICT Group (includes MFPs, PPS and printers) net sales up 27.3% to 357.5 billion yen
    • Operating profit down 3% to 20.2 billion yen
    • During last quarter, net sales down 22.7% to 258,400 million yen
      • Operating loss of 14,400 million yen ($134 million)
      • No longer provides data specifically on printer and MFP sales
    • “will leverage its technologies to develop products and services that support new lifestyles as it works to respond to economic changes in a timely and flexible manner”

 

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