Sharp has managed to fight its way back to profitability this year — posting an 18% boost in sales over last year, up to JPY 2.93 trillion (US$28.6 billion), and a net profit of JPY 11.56 billion ($113 million). The return to profitability is notable because of the large loss posted by the company the previous year.
The recent gains were partly thanks to the recent boom in Japan’s residential solar market, as well as the fact that 2013 was a good year for the company’s other sectors.
Solar cell sales rose by a very substantial 68.9% to JPY 439 billion ($4.3 billion) — this was partly down to the residential market, but also partly down the utilization of its panels in large-scale solar projects.
According to reps from the company, this current fiscal year will see a pick-up in the Japanese economy, and, subsequently, a pick-up in sales.