Sharp might be shutting down its LED display plant in Hiroshima Prefecture in Japan in 2017, as part of its restructuring efforts implemented by parent company Foxconn, sources familiar with the matter toldJapan Times recently.

The electronics company might consolidate the production line at facilities in Mihara, Hiroshima Prefecture, with a factory in Fukuyama in the same prefecture, which mainly makes camera components for smartphones, said the source.

Sharp is also evaluating whether it should downsize its LCD television factory in Tochigi Prefecture, they said.

The company intends to secure 300 jobs at the Mihara plant, said sources.

Sharp is implementing steps to return to profitability in the fiscal year ending in March 2017 for the first time in three years.

However, slowdown in LED panel sales caused consolidated sales for the same year to drop an estimated JYP 4.7 trillion (US $45.25 million) compared to the previous year.