Independent Insight Provider

Hao Wang, CFA

Equity Bottom-Up

<p>Sharp's Q1 results are in-line with consensus and better than Nikkei&rsquo;s preview. During the briefing, Sharp also showed some positive movement in restructuring LCD TV and film solar panel business. IF a spinoff of LCD business (as said by President Takahashi) is to be achieved in the next 3-9 months, Sharp&rsquo;s situation could significantly improve so should share price. &nbsp;Overall I expect share price to remain range bound in the short term in a down channel until we hear anything about its LCD business spin-off.</p>

Sharp's Q1 results are in-line with consensus and better than Nikkei&rsquo;s preview. During the briefing, Sharp also showed some positive movement in restructuring LCD TV and film solar panel business. IF a spinoff of LCD business (as said by President Takahashi) is to be achieved in the next 3-9 months, Sharp&rsquo;s situation could significantly improve so should share price. &nbsp;Overall I expect share price to remain range bound in the short term in a down channel until we hear anything about its LCD business spin-off.

The ideal vs reality - what Sharp's Q1 tells us?

Sharp Corp

The ideal vs reality - what Sharp's Q1 tells us?