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Sharp sees 170bn yen loss ahead of Foxconn takeover

OSAKA -- Sharp anticipates a 170 billion yen ($1.51 billion) operating loss for the year ending Thursday, underscoring the difficulty the company will face in rebuilding core display operations under Taiwan's Hon Hai Precision Industry, or Foxconn.

     The Japanese electronics maker initially forecast group operating profit of 80 billion yen for fiscal 2015, a vast improvement from fiscal 2014's 48 billion yen loss. That forecast was downgraded to 10 billion yen last October. Large contingent liabilities revealed in February during acquisition talks with Foxconn prompted the Taiwanese company to demand that further valuation losses on inventory and other expenses be booked, leading to another 180 billion yen downgrade.

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