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Sharp likely bled less red ink under Foxconn in fiscal 2016

Technology group on track to return to the black this year

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Sharp has been carrying out structural reforms led by parent Foxconn.   © Reuters

OSAKA -- Sharp will likely report a group net loss of around 25 billion yen ($227 million) for the fiscal year ended March 31, surpassing expectations under Taiwanese parent Hon Hai Precision Industry.

The red ink would be less than the 27.1 billion yen forecast and mark a big improvement over the 255.9 billion yen loss of fiscal 2015.

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