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Japan's Sharp announces sale of head office buildings in Osaka

Xinhua, September 29, 2015 Adjust font size:

Japan's electronics giant Sharp announced on Monday that it will sell its two head office buildings in Osaka for a total of 18.8 billion yen (156 million U. S.dollars).

The sale is part of the company's restructuring plan announced on May, which includes job cuts through voluntary retirement.

The company plans to hand over the two buildings next March, but will continue using the two buildings until around March 2018 by leasing them back from the buyers Nitori and NTT Urban Development, while looking for new offices.

A profit of 14.8 billion yen from the coming sales will be booked as a special gain in the company's accounting for fiscal 2015, said the company.

Sharp reported a group net loss of 222.35 billion yen for fiscal 2014, and expects to remain in the red in the first half of fiscal 2015, due to sluggish sales of liquid crystal displays for smartphones. Endi