Sony Projects Deeper Loss

Published on April 10, 2012
by Daisuke Wakabayashi and Hiroyuki Kachi

Sony Corp. slashed its earnings outlook for the fourth time in less than a year, warning that it now expects a ¥520 billion ($6.4 billion) loss for the past fiscal year because of a tax-related charge from continued losses at the Japanese company’s U.S. operations.

The projected loss, more than double the ¥220 billion loss forecast in Sony’s previous outlook in February, would be the deepest so far in the electronics conglomerate’s 65-year history.

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