Several thousand layoffs predicted following expected quarterly losses as high as ¥100 billion.
Printer manufacturer Sharp is predicted to lay off several 
thousand jobs and sell a number of office buildings in Tokyo by Japan Daily Press and Reuters, as analysts anticipate quarterly losses as high as ¥100 billion ($1.28 billion/€1.04 billion).
The record losses, if accurate to predictions, will be more than double that of the same quarter of 2011, made worse by the $198 million settlement after an LCD price fixing case in the US.
The decline in demand for televisions is believed to be responsible for the OEM’s poor performance, and Sharp has announced expectations that TV sales would continue to decline by a further 19 percent of the remainder of the fiscal year.
Nikkei Daily Business states that Sharp commented: “We are considering various measures to tackle the difficult situation, and will disclose the details when it is finalised”.
It is currently unclear how these developments will affect its printer manufacturing business.