Sony Projects Deeper Loss
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.