Sharp reports significant recovery in MFP business

August 5, 2021

The company has announced its consolidated financial results for the first quarter for fiscal year 2021.

Net sales for the reporting period were up 18.9% year-on-year, at ¥611.5 billion ($5.58 billion/ €4.71 billion). Operating profit was ¥18.3 billion ($167 million/ €141 million), up 86.3% year-on-year.

Sharp’s 8K Ecosystem segment, which includes its printers, recorded sales of ¥137.5 billion ($1.25 billion/ €1.06 billion) for the first quarter period, a 36.8% increases year-on-year. Operating profit for the segment for the reporting period was ¥4.1 billion ($37 million/ €32 million).

Sharp said that its MFP business and Display Devices segment, which recorded declining performance in the year-ago period due to COVID-19, experienced a significant recovery.

Overall Sharp declared that its financial performance is progressing nearly in line with expectations, so the forecasts will stay unchanged.