Brazil: Japan Sharp to firm control in the Brazilian subsidiary.

South American Business Information,  June, 1999  

Tags: Sharp Corp.

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Sharp, that has a 25% equity in the Brazilian subsidiary Sharp Equipamentos Eletronicos, may firm the control in the company with the majority Machline family to become a minority partner on it. Sharp posted a gross turnover of R$11.79mil over the first quarter of 1999 (Jan - March ) reported losses of R$52mil, 99,49% higher than similar period in 1998.

Indebtedness reached US$170mil, and negotiations are active with creditors. There was a downtrend in the consumer electronics market with Sharp's TV sets dropping 55% in the sales volume in Q1 1999 compared with Q1 1998, ...

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