Amid the lingering global economic slump, Sony Corp. reported Friday a ¥49.97 billion group net loss for the first half that ended Sept. 30, against a ¥70.23 billion group net profit posted a year earlier.
While the yen's strength against major currencies ate into the company's profits, the economic downturn and harsh global competition hurt sales of its main products, the country's largest exporter said.
"The stronger yen is the major reason for the lower profits" in the latest financial quarter, Nobuyuki Oneda, Sony's chief financial officer, told reporters in Tokyo.