Japan’s Sharp appoints new president after record lossMarch 14, 2012 - 15:04 AMT PanARMENIAN.Net - Sharp president Miko Katayama is set to step down after a record loss forecast for 2011, TechRadar reported. Takashi Okuda, a managing executive who handled global operations, will take over the president position. Katayama will take on the chairman role. The leadership change follows a record loss forecast of $3.5 billion for the 2011 fiscal year. Okuda said "It is my aim to unite the company and revive our fortunes by changing our business model. We have a lot of unique technology, and the ability to produce one-of-a-kind products is in our genes. If we are serious, we still have a chance." Sharp is Japan's largest manufacturer of LCD displays, but its shares have slid 15 percent since its disastrous loss forecast was announced. It recently slashed production of LCD TVs at its Osaka plant by half – a decision driven by low demand. Japanese compatriots Panasonic and Sony has also announced management shake-ups as they battle expected yearly losses of $17 billion, a strong yen and competition from overseas rivals such as Korean electronics giant Samsung. Just last month Sony announced that CEO Sir Howard Stringer would be replaced by Kazuo Hirai from 1 April. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |