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Business

Foxconn's top-down management style has Sharp looking up

CEO Tai moves in from Taiwan and cleans house at the Japanese electronics giant

Sharp President and CEO Tai Jeng-wu is known as Terry Gou's close confidant. (Photo by Kosaku Mimura)

OSAKA -- Sharp has finally regained its edge. Since finding shelter last August in the welcoming arms of Taiwan's Hon Hai Precision Industry, better known as Foxconn Technology Group, the bottom line of the once-ailing Japanese electronics company is looking up.

The company posted a pretax profit in the year ended March 2017 for the first time in three years, with net loss falling substantially to 24.8 billion yen ($217 million) from 255.9 billion yen the previous year. To demonstrate its resolve to go on the offensive, Sharp unveiled in late May an aggressive medium-term management plan that targets a group operating profit of 150 billion yen in the year ending March 2020 -- 2.4 times the latest fiscal year and the largest since the profit of 186.5 billion yen in fiscal year ended in March 2007.

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