OREANDA-NEWS. Sharp Corporation announces that it has decided to put out a call for voluntary retirement at the board meeting held on May 14th, 2015, and will inform the company labor union today about the decision and the outline of the voluntary retirement program as below:

1. Backgrounds to calling for voluntary retirement Sharp Group is currently engaged in business reinforcement measures and improving its balance sheet to recover the business performance. As examples of such efforts, Sharp aims to introduce company-system to strengthen adaptation to clients and business criteria to realize independent management, and also to establish the basis for stable profitability by downsizing of bases, streamlining headquarter, and adjusting employment to an appropriate level. Under this circumstance, Sharp has decided to offer a voluntary retirement program with sufficient financial support and re-employment assistance to employees who would seek working opportunities outside Sharp Group.

2. Outline of voluntary retirement program 

(1) Applied companies: Sharp Corporation and its major consolidated subsidiaries in Japan
(2) Number of accepting application: approx. 3,500 personnel
(3) Application period: in late July 2015 (scheduled)
(4) Date of retirement: September 30, 2015 (scheduled)

3. Future outlook Sharp estimates the expense for the voluntary retirement program as total of approx. 35 billion yen among Sharp Group in Japan. The number of applicants for voluntary retirement is yet to be fixed. The results (number of applicants, costs, etc.) will be announced immediately when they are fixed.