Sharp has managed to fight its way back to profitability this year — posting an 18% boost in sales over last year, up to JPY 2.93 trillion (US$28.6 billion), and a net profit of JPY 11.56 billion ($113 million). The return to profitability is notable because of the large loss posted by the company the previous year.
The recent gains were partly thanks to the recent boom in Japan’s residential solar market, as well as the fact that 2013 was a good year for the company’s other sectors.
Solar cell sales rose by a very substantial 68.9% to JPY 439 billion ($4.3 billion) — this was partly down to the residential market, but also partly down the utilization of its panels in large-scale solar projects.
According to reps from the company, this current fiscal year will see a pick-up in the Japanese economy, and, subsequently, a pick-up in sales.
“The overseas business environment is expected to show mild recovery. However, we anticipate the situation will remain unpredictable, with some risk factors, including the pullback of US quantitative easing and a slowdown in the growth in China and emerging countries, and a geopolitical risk in Ukraine.”
Something to note with regard to increased domestic demand — the company has largely refocused on the domestic market at the expense of the international as a result of weak sales in the European market. With an increased focus on the Japanese market, sales should remain quite healthy there.
In related news, the “largest solar PV power plant in Japan” recently went online in Oita City, located on the southern portion of the island.
The 82 MW Oita Solar Project represents a significant boost to the country’s, and to the region’s, renewable energy capacity. Power from the new plant is currently being sold to Kyushu Electric Power Company under a 20-year power purchase agreement.
Sharp Solar Profit Is Positive Again (Solar Cell Sales Increase 69%) was originally published on Solar Love!.