Sharp says it won't exit solar business

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Amid ongoing speculation that financially troubled electronics giant Sharp would soon exit the solar business, Kazushi Mukai, head of Sharp’s energy unit, told reporters during a tour of the company’s solar cell factory in Sakai, Japan, that Sharp would not sell its loss-making solar business.

According to Reuters, Mukai said, “There is no truth to talk that we will quit, or sell, the solar business.” Instead, the company, which forecasts a loss of 5 billion yen (US$42 million) for the unit in its fiscal year ending March 31, plans to return to profit in its next fiscal year.

Mukai said the loss was due mainly to the yen’s decline rather than the fundamental structure of the business, according to Reuters.

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