Sharp expects 15b yen profit next fiscal year - report

Cash-strapped Sharp Corp is predicting a net income of 15 billion yen (US$188 million) for the next business year, part of a plan to return to the profit it needs to win a bailout from its main banks, Kyodo news reported on Tuesday.

Sharp has to repay as much as 360 billion yen of short-term commercial paper loans and needs a credible plan to secure financing from lenders led by Mizuho Financial Group and Mitsubishi UFJ Financial Group.

via Business feed http://www.scmp.com/business/companies/article/1046852/sharp-expects-15b-yen-profit-next-fiscal-year-report