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URGENT: Sony to go into red in fiscal FY 2013 with net loss of 110 bil. yen
[February 06, 2014]

URGENT: Sony to go into red in fiscal FY 2013 with net loss of 110 bil. yen

(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Feb. 6 -- (Kyodo) _ Sony Corp. said Thursday it expects to post a group net loss of 110 billion yen for fiscal 2013 through March, against its earlier profit projection of 30 billion yen, as a result of its flagging television and personal computer businesses.

The electronics maker projects an operating profit of 80 billion yen on sales of 7.7 trillion yen.

For the April-December period, the company returned to the black with a group net profit of 11.17 billion yen, against the loss of 50.87 billion yen it incurred a year earlier. Its operating profit grew 70.5 percent from a year earlier to 141.45 billion yen on sales of 5.9 trillion yen, up 16.4 percent.

Sony also announced the sale of its VAIO computer business to Tokyo-based investment fund Japan Industrial Partners Inc. and that it will spin off its television business as a wholly owned unit from July.

(c) 2014 Kyodo News International, Inc.

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