Sharp down on report of US$5bn loss

Shares of Sharp Corp fell as much as 6.6 per cent after a newspaper said the Japanese TV maker would likely announce a first-half net loss of around US$5 billion next week, nearly double an earlier estimate, as it counts the cost of job cuts.

Sharp appears to have suffered a net loss of some 400 billion yen in the April-September half, compared with the 210 billion yen loss the company had projected in August, the Nikkei business daily said.

via Business feed http://www.scmp.com/business/companies/article/1069267/sharp-down-report-us5bn-loss