Feeds

Sharp clarifies doom-laden English earnings report

'Mis-translation' of report corrected to remove reference to possible collapse

Protecting users from Firesheep and other Sidejacking attacks with SSL

Ailing Japanese electronics giant Sharp has been forced into an embarrassing clarification on the future of the company, claiming that a doom-laden warning it made last week was mis-translated into English.

The under-fire firm, which could be set to slash as much as 19 per cent of its workforce, said in an earnings report last week that “material doubt” existed over its ability to carry on as a going concern.

The original statement was as follows:

As operating and net loss for the six months ended September 30, 2012 were huge, continuing from the previous year, cash flows from operating activities were negative. Therefore, Sharp is in circumstances in which material doubt about its assumed going concern is found.

However, a few days later the firm thought better of it, removing the offending words and softening the overall tone in order “to inform our status more precisely”.

It now reads thus:

As operating and net loss for the six months ended September 30, 2012 were huge, continuing from the previous year, cash flows from operating activities were negative. Therefore, there exist conditions which might raise uncertainties about Sharp being an assumed going concern. However, we judge that no uncertainties about Sharp’s ability to continue as a going concern will exist. The countermeasures described below are thought to resolve such conditions.

According to the Wall Street Journal the firm has made no changes to its Japanese filing, which is closer in meaning to the new English statement.

However, it pointed out that the following phrase doesn’t exist in the Japanese version: “We judge that no uncertainties about Sharp’s ability to continue as a going concern will exist.”

The move to re-translate such an important piece of corporate comms is pretty rare and may be indicative of turmoil at the company, which is rumoured to be preparing around 11,000 job cuts and asset sales in a bid to haul itself into the black.

In September it secured a ¥360bn (£2.9bn) bailout deal with several Japanese banks including Mizuho Corporate Bank and The Bank of Tokyo-Mitsubishi. ®

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.