Shares of Japan's Sharp Corp fell on Friday as worries about the TV and display maker's future deepened a day after it warned of a $5.6 billion net loss for this year and said it might not be able to survive on its own.
Rival Sony Corp rose, however, and Panasonic Corp's shares steadied after a slide to their lowest in more than 30 years, as investors look for signs that Japan's tech firms are finally moving to cope with tough overseas competition and a sluggish global economy.
"Sharp and Panasonic look miserable," said Yasuo Sakuma, portfolio manager at Bayview Asset Management.
"Investors are hesitant to buy them even though their share prices look relatively cheap. Nobody can say all the bad news has been discounted."
Sharp shares, which have lost three-quarters of their value since the start of the year, fell 4.1 percent to 162 yen after a warning the day before it was seeing a "serious negative operating cash flow".
China's television regulator has ordered a crackdown on dramas about the country's battles with Japan during and before World War Two and demanded they be more serious, state media said on Friday, following viewer complaints about ludicrous storylines. (Reuters )
Shukan Post (May 24) conveys the difficulties experienced by other parts of the adult-entertainment biz in servicing customers from the communist nation.
A deri heru (“delivery health”) call-girl tells the tabloid that she is often requested to arrive at major hotels in the Shinjuku and Ikebukuro entertainment areas of Tokyo by Chinese visitors. (Tokyo Reporter)