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Sharp Electronics Corporation Announces Formation of Sharp Document Solutions of America

16 May, 2003

Sharp Electronics Corporation Announces Formation of Sharp Document Solutions of America

MAHWAH, NJ— Sharp Electronics Corporation has established a new division company that will be responsible for the sales and marketing of Sharp's broad-based line of multi-functional products, facsimiles and software solutions. Effective immediately, Sharp Document Solutions of America will commence operations in the United States.

Ed McLaughlin has been named President of Sharp Document Solutions of America. McLaughlin, who previously served as Senior Vice President of SEC's Network Office Solutions Group, will now report to Toshiaki Urushisako, Chief Executive Officer of North and South America Operations and Chairman of the Board of Sharp Electronics Corporation.

“Establishing a new Division company focused exclusively on the document business and operating independently from SEC's other business groups will better enable Sharp and our network of independent dealers to compete at the highest levels of the industry,” said Urushisako. “Sharp Document Solutions of America also reflects the strategic importance of this business category to Sharp's overall business in the United States.”

“Sharp remains committed to the independent dealer network,” said McLaughlin. “Our new organization is being structured to be both aggressive and responsive in meeting the needs of our current and prospective dealers and their customers. As our industry moves rapidly towards integrated software applications with an emphasis on offering solutions, not simply hardware, Sharp Document Solutions of America is poised to provide our partners and customers world-class products combined with world-class support,” said McLaughlin.

Sharp Document Solutions of America will support a more comprehensive range of product offerings and a growing array of software solutions by deploying more field sales, solutions support and systems engineers offering service support in key areas to grow market presence.

According to McLaughlin, Sharp Document Solutions of America is being established at an opportune time for both Sharp Corporation and SEC. “Sharp Corporation last week announced an 11-percent revenue growth for the recently completed 2002 fiscal and a 35-percent increase in operating profit,” said McLaughlin. “SEC is bringing a renewed focus to its document business in the U.S. at a time when our parent company is outperforming many of its peers and is well positioned for continued growth and profitability.”

The Sharp Document Solutions of America senior management team includes Keiichi Katsuta, Senior Vice President, Doug Enberg, Associate Vice President of Sales, Richard Boomsma, Associate Vice President of SNAP, and Mike Marusic, Associate Vice President, Marketing.

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