Sony’s net loss grows to ¥25 billion

Kyodo

Sony Corp. said Thursday its group net loss for the April to June period widened to ¥24.64 billion from ¥15.50 billion a year earlier due to the strong yen and increased costs for restructuring.

The electronics giant said group operating profit plunged 77.2 percent to ¥6.28 billion, but consolidated sales rose 1.4 percent to ¥1.52 trillion.

For the year to March 31, Sony revised its earnings projection downward as it cut the outlook for its mainstay products amid the economic slowdown, it said.

Sony said it now expects to book a group net profit of ¥20 billion and an operating profit of ¥130 billion on sales of ¥6.8 trillion, versus an earlier forecast for group net profit of ¥30 billion and operating profit of ¥180 billion on sales of ¥7.4 trillion.