Sharp to sell shares, lowers loss forecast

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Associated Press

Posted on September 18, 2013 at 7:06 AM

Updated Wednesday, Sep 18 at 7:06 AM

TOKYO (AP) — Japan's embattled Sharp Corp. is forecasting a narrower loss and plans to bolster its balance sheet with a share sale and new business alliances.

The maker of Aquos televisions and LCD monitors says higher sales are behind its improving outlook.

The company is forecasting a net loss of 10 billion yen ($100 million) for the six months ending Sept. 30, which is half of the loss forecast in April.

Sharp is planning to raise significant new cash from a public share sale. It will also sell shares to auto parts maker Denso, building materials group Lixil and electric tools maker Makita.

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