Sharp to boost local output overseas

OSAKA —

Sharp Corp said Wednesday it will step up local production for consumption in China and other overseas markets to challenge the growing presence of South Korean rivals. The plan was revealed by Sharp President Mikio Katayama at the major Japanese electronics maker’s general shareholders meeting in Osaka.

Sharp is facing an uphill battle with Samsung Electronics Co and other South Korean manufacturers in liquid crystal television and other sectors due to the yen’s appreciation against the won, Katayama said. ‘‘We can fight without gloves’’ if Sharp reduces foreign exchange risks by increasing local production, he added.

The Osaka-based company booked a group net profit of 4.3 billion yen in the year ended in March, a turnaround from a loss of 125.8 billion yen the previous year, due in part to the strong performance of its photovoltaic cell business.

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