Sony expects 8.8 percent annual profit drop as strong yen slows image sensor biz – Reuters Politics


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.

Sony Corp’s logo is seen at its news conference in Tokyo, Japan November 1, 2017. REUTERS/Kim Kyung-Hoon

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)

Reporting by Makiko YamazakiEditing by Christopher Cushing



Source link