The previous CEO Ohtsubo Fumio (67) who led the company to two consecutive years losses topping JPY 750 billion (USD 8.8 billion) annually was kicked upstairs to chairman.

FORBES: Japan's Samurai CEOs (1) Panasonic's Tsuga Kazuhiro

In the 12 months to end March 2012 the company lost JPY 376 billion (USD 4.8 billion), largely attributable to its over-investment in money-losing liquid crystal television production and sales.

FORBES: Hon Hai May Be Walking Away From, and Dooming, Sharp

During the past fiscal year, as the company fell into loss, the metric hit 75 days, a disastrous situation, partly as a consequence of which interest bearing debt increased to more than JPY 1 trillion (USD 12.5 billion).

FORBES: Whither Japan Stocks: Where Sharp Went Wrong

Its current forecast is to lose a further JPY 250 billion (USD 3.2 billion) by end March 2013.

FORBES: Hon Hai May Be Walking Away From, and Dooming, Sharp

For example, Mitsubishi Corporation paid JPY 230 billion (USD 3 billion) for rights to gas in Canada.

FORBES: Itochu Acquiring Dole's Asian Business, Leading a Surge in Japanese Offshore M&A, But the Dispute with China Looms

Fortunately this includes (in addition to USD) the EUR, GBP, JPY, CHF, CAD, AUD, NZD and even the Norwegian, Swedish and Danish currencies.

FORBES: Questions Linger Regarding New Forex Rules

In the next two years the company plans consolidations, closings, resource transfers, and economies that will add JPY 111 billion (USD 1.4 billion) to operating profits.

FORBES: Connect