Sony Expects 8.8 Percent Annual Profit Drop As Strong Yen Slows Image Sensor Biz - FbiCables Network | The News that Shapes World Opinion

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Friday, April 27, 2018

Sony Expects 8.8 Percent Annual Profit Drop As Strong Yen Slows Image Sensor Biz


Sony Corp's logo is seen at its news conference in Tokyo
Sony Corp's logo is seen at its news conference in Tokyo, Japan November 1, 2017. REUTERS/Kim Kyung-Hoon
April 27, 2018
TOKYO (Reuters) – Sony Corp said on Friday it expects operating profit to fall 8.8 percent in the financial year through March 2019 as a stronger yen eats into profits from the image sensor business.
The electronics and entertainment firm forecast profit to fall to 670 billion yen ($6.13 billion) from 734.86 billion yen a year prior, when earnings exceeded the previous peak set in the year through March 1998.
The outlook compared with the 765.04 billion average of 23 analyst estimates compiled by Thomson Reuters.
($1 = 109.2800 yen)

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