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Japan-Update

Sharp seen headed for first net profit in 4 years

LCD sales growth, cost-cutting under Foxconn drive rebound

Taiwan's Foxconn acquired Sharp in August 2016 in one of the biggest purchases by a foreign company in Japan.

OSAKA -- Japanese technology group Sharp likely will achieve a net profit of around 40 billion yen ($359 million) in fiscal 2017 after three years in the red, the turnaround owing to efforts to raise sales and lower costs under its Taiwanese parent.

Sharp will issue earnings forecasts for the year ending in March 2018 when it presents a business plan for the next three years on May 26. 

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