Daily Management Review

Sony Corp. Lowers Its Operation Profit Estimates Following The Writedown Of Its ‘Movie Business’


02/08/2017


A downward slide of 30 billion yen is the price of Sony’s “$1 billion writedown”.



Last week, Sony Corp. reduced its entire year’s outlook for “operating profit” following the take of a “$1 billion writedown” of the “Japanese TV-to-gaming group” adding to its movie business that treads the struggling terrain, reports Reuters.
 
The forecast of the company on “operating profit” for the fiscal year ending in the month of March has been lowered to “240 billion yen”, which is equivalent to “$2.13 billion”, while its previous estimate stood at “270 billion yen”.
 
Moreover, the company also informed that its operating profit for the period of October to December dropped down to “92.4 billion yen from 202.1 billion yen”, the latter being its corresponding figure of its previous year. While, Makiko Yamazaki added:
“The company said earlier this week it had cut the goodwill value of its movie business by 112.1 billion yen due to a dimming outlook for earnings from DVD and Blu-ray discs”.
 
 
 
 
References:
http://www.reuters.com







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