Sony Raises Full-Year Profit View

Japanese electronics firm Sony Corp. said it doubled its profit outlook for the past business year ended March, aided by a weaker yen, asset sales and a rebounding stock market that helped its life insurance business.

Sony said it now expects a net profit of ¥40 billion ($400 million) for the past fiscal year versus a February estimate of ¥20 billion. It also raised its operating profit outlook to ¥230 billion from an earlier ¥130 billion, while lifting its sales estimate to ¥6.8 trillion from ¥6.6 trillion.

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