Sony to post a massive loss of 100 bn yen

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Sony
Tokyo, Jan 13: The strong yen has delivered a major blow to Sony, major electronic manufacturer of Japan. Media reports on Tuesday, Jan 13 said that Sony will be posting an operating loss of 100 billion yen ($1.1 billion) this fiscal year through March, for the first time since 1995.

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Sony has seen a fall in sales of its liquid crystal display screens and other products.

Strong yen is the key reason for such a loss as it cuts profits on goods sold abroad, the Nikkei business newspaper and broadcaster NHK reported.

The company's electronic division is the main contributor of losses, which had earlier been a steady source of profits, the reports added. Sony and Nikkei's operating loss could add upto 200 billion yen ($2.2 billion).

A company spokeswoman declined to comment on the reports. In Oct, the company revised its operating profit forecast to 200 billion, 57 percent lower than its earlier target of 470 billion yen.

OneIndia News (With inputs from Agencies)

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