Has Chinese Currency Manipulation Succeeded in Breaking Japanese Manufacturers?

Tonight’s Financial Times has a eye-popping story, that the survival of Sharp, one of Japan’s top consumer products manufacturers, is in doubt:

Sharp has admitted there is “material doubt” about its ability to stay in business as it warned of a second year of record losses, deepening the gloom surrounding Japan’s once dominant consumer electronics industry…

The warning came a day after Panasonic stunned investors by projecting a second consecutive $10bn loss. Panasonic’s share price dropped a further 19 per cent on Thursday.

Sharp and Panasonic, along with Sony, are the most consumer-focused of Japan’s large technology companies. All three have suffered as prices for flatscreen televisions and other household items plunged globally.