OSAKA -- Electronics maker Sharp appears to have suffered a consolidated net loss of 230 billion yen ($1.9 billion) for the fiscal year ended March, its first such loss in two years. The loss contrasts with the company's 11.5 billion yen profit in the previous fiscal year.

     An operating loss of 40 billion yen is expected, compared with a 108.5 billion yen operating profit in the prior fiscal year.

     Sharp was hurt by sluggish sales of digital products, along with lower prices caused by fiercer competition in the smartphone LCD panel market. Impairment losses from underperforming facilities including its main Kameyama liquid crystal display plant in Japan also affected profit, as did valuation losses from falling prices on silicon, used in solar cells.

     Sales of about 2.8 trillion yen are expected, around 100 billion yen less than forecast and 4% less than in the prior fiscal year.

     Sharp will engage in restructuring including layoffs upon receiving around 200 billion yen in capital this summer from its main lenders Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ. Both lenders are providing aid by swapping some debt in exchange for equity.

     A net loss of over 100 billion yen is anticipated for the fiscal year ending March 2016 due to costs tied to restructuring, which Sharp hopes will lead to an operating profit of about 90 billion yen. The Osaka-based company is to announce its restructuring plan along with its financial statement May 14.

(Nikkei)