TOKYO, May 9 (Reuters) – Japan’s Sharp Corp, an Apple Inc supplier, said on Thursday it expects its operating profit to rise 18.8 percent this year, but well below its target.
Electronics maker Sharp, controlled by Taiwan’s Foxconn , forecast operating profit of 100 billion yen ($909.84 million) for the year to March 2020, up from 84.1 billion yen a year earlier.
The outlook compared with an average forecast of 92.5 billion yen from 10 analysts surveyed by Refinitiv and was far short of a 150 billion yen target for the current financial year that Sharp set in 2017. (Reporting by Takashi Umekawa; Editing by Sonali Paul and Himani Sarkar)
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