Sharp Corp booked a net profit of 11.6 billion yen ($114.05 million) for the year ended March 31, meeting the conditions for a $4.6 billion rescue arranged by banks last year after the company recorded a 545 billion yen loss in the previous year. It said it was aiming to log a 30 billion yen net profit in FY2014/15, but forecast a drop in operating profit in the current business year to next March as the benefit of a weaker yen over the past year recedes while a pull-back in production of solar cells will also clip profits. Sharp forecast a 7.9 percent decrease in operating profit to 100 billion yen ($983.19 million) for the current year through March 2014, just above market consensus of 98.7 billion yen, the mean of 15 analyst estimates according to Thomson Reuters' Starmine.
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