Sony Corp. on Tuesday reported a 78 percent year-on-year fall in its group net profit to ¥26.01 billion in the April to September period, weighed down by a stronger yen and sluggish semiconductor operations.
The mammoth electronics maker said its operating profit for the first half of the current business year through next March dropped 44.9 percent to ¥101.94 billion, with its sales down 10.8 percent to ¥3.30 trillion.
The announcement came a day after Sony cut its earnings forecast for the entire fiscal 2016, citing one-time losses related to the sale of its battery business.
Sony now expects to earn a net profit of ¥60 billion for fiscal 2016, down 59.4 percent from a year earlier, and an operating profit of ¥270 billion, down 8.2 percent, on sales of ¥7.4 trillion, down 8.7 percent.