Sharp Corporation, 222.3 billion yen in the red Restructuring plan including workforce reduction

Kozo Takahashi, Director and President of Sharp Corporation announces the ''Medium-Term Management Plan for Fiscal 2015 through 2017'' during a press conference on May 14, 2015, Tokyo, Japan. Takahashi announced drastic strategies to return the company to ''Recovery and Growth'', including a 10 percent cut in the workforce and selling its head office facility in Osaka. Sharp recorded large deficits for the year ending (March 2015) because of a deterioration in the business environment for LCD TVs in America and its energy solution business. In 2013 the company set and announced the ''Medium-Term Management Plan for Fiscal 2013 through 2015'', which made the company profitable for one year as they reported at the year ending in March 2014. (Photo by Rodrigo Reyes Marin/AFLO)