Sharp reverses annual profit forecast to Y30 bil loss

Japanese consumer electronics giant Sharp on Tuesday reversed its fiscal year profit forecast, warning that it would instead lose about 30 billion yen,

Great management team. Started the year thinking they'd make a profit, but instead will lose JPY 30 Billion.

said Sharp’s top executives would take pay cuts of as much as 55% over the losses—a common act of atonement in Japan’s business world.

They should "atone" by quitting, en masse. They are clearly not capable of seeing even twelve months out, let alone the several years out it takes to guide a major international company strategically. In many western countries they'd be gone, because they would not be protected by all the corporate cross-holdings. But doesn't happen in Japan, since the banks hold a lot of Sharp's stock, and they'll make money loaning Sharp money.

“It’s wrestling with severe price competition from Chinese and South Korean competitors so it has to cut costs even more to survive.

Can we stop using this as an excuse for slow-moving, bloated Japanese companies? It is not like China or SK just suddenly showed up on the world stage one day.

Abenomics hasn't arrived in Osaka yet it seems

What's the average age of Japan electronics companies' CEOs? Therein lies the problem. This isn't the roaring 80s anymore.

TVs, being exposed to TVs and other commodity consumer electronics is bad for business. Power systems, people movers, and auto parts are profitable. Look at Toshiba, Panasonic, and Hitachi, compared to Sony, Sharp and NEC