After the biggest loss in the company’s 100-year history and turning to fearsome rivals for a financial lifeline Sharp Corp.’s new President Kozo Takahashi said the Japanese firm was a victim of “big company disease.”
“One cause of our financial troubles lies in ‘big company disease,’ characterized by arrogance, conceit, a decline in the spirit to challenge oneself, and a lack of customer perspective,” Mr. Takahashi told investors at Sharp’s annual shareholder meeting on Tuesday. “We forgot ourselves and the founding principles of this company as our operations expanded.” Mr. Takahashi said he plans to cure the company from its illness by “changing everything.”