Sharp (TYO:6753) has finalized the transfer of fixed assets, including land and buildings located in Sakai-ku, Sakai City, Osaka, to SoftBank Corp. (TYO:9984) for 100 billion yen, according to its bourse filing last Friday.
The transaction, announced on Dec. 20, 2024, was completed on March 14, and is expected to result in a gain on sale of non-current assets of 75.4 billion yen for the fiscal year ending March 31.
As a result, Sharp anticipates that its profit attributable to owners of the parent company will exceed the previously forecasted 5 billion yen.
However, due to uncertainties surrounding expenses related to ongoing structural reforms aimed at future business growth, Sharp has not yet determined its final profit outlook for the fiscal year.
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