Reduces net-profit outlook for the ended fiscal year after gauging loss from March’s earthquake and tsunami.
Sony today said that it expects to post a huge loss, after gauging likely damages caused by the devastating March 11 earthquake and tasunami. This will be the company’s third straight year below the profit line.
The Japanese company has lowered its net-outlook for the fiscal year that ended in March to a loss of ¥260 billion ($3.14 billion) from the ¥70 billion profit it forecast earlier.
Despite the losses, Sony expects profitability for the current business year.