Sharp’s Solar Unit Returns to Profit in Japan

published: 2014-02-06 18:01 | editor: | category: News

Sharp Corp.’s solar business boosted since 3Q13 and has returned to profit due to demand for large-scale solar projects in Japan. The revenue in 1Q14 may reach 24 billion yen, stated Sharp.

Sharp’s statement says that the solar unit had an operating profit of 5.9 billion yen ($59 million) in the three months ended Dec. 31, compared with an operating loss of 1.9 billion yen in the same period a year ago. Revenue rose 94 % to 108.5 billion yen, while sales volumes rose 67% to 459 MW.

With Japan’s program for clean energy in July 2012 to encourage more energy sources, the country’s solar market becomes stronger. Bloomberg New Energy Finance reports that Japan is projected to add 9.3 GW to 11.8 GW this year, which will be almost doubled from the 6.8 GW installation in 2013.

Meanwhile, Sharp revised its forecast for the solar unit’s operating profit to 24 billion yen from 13 billion yen for 1Q14. Also, sales of solar products are projected at 2.1 GW, higher that the previous estimate of 1.8 GW. Revenue for the unit is expected to reach 430 billion yen, a number that is a third higher than the earlier estimate of 310 billion yen.

In the statement, Sharp express its ambitious of expanding sales in the Japanese non-residential market through strengthening design and sales activities.

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