TOKYO - Sony plans a return to profit from this exercise after slides it into its third consecutive year of red ink, hammered by the cost of massive online security breaches and damage caused by the tsunami and an earthquake of March to the northeast of the Japan.
Based in Tokyo Sony Corp., said Thursday it expects a profit of 80 billion yen (975.6 million) for the current fiscal year, as the sales recover in TV flat screen, games, personal computers and network services.
Sony has accumulated a loss of 259.6 billion yen ($3.2 billion) for the year ended March 2011, most large net loss of the company in 16 years.
Latest Sony red ink is worse than the loss of 40.8 billion yen accumulated in the previous year and the loss of 98.9 billion yen for the year of prior to this.
Sony said that he hoped to boost sales for the fiscal year to March 2012 from 4.4% to 7.5 billion yen ($91.5 billion).
Losses are reminiscent of another difficult in the history of Sony period, when his bottom line was beaten in 1995 by the disastrous results of its operations in film, following the purchase of Sony studio $ 3.4 billion Hollywood Columbia Pictures in 1989.
Sony, which makes the game PlayStation and Bravia display console has crystals liquid televisions, has been fighting delays production and sales loss after supplier factories were damaged by the earthquake and tsunami.
It lowers its earnings projection, earlier this week quoting a charge, it must be related to damage of the disaster. He had initially planned to return to profit.
Sony has also faced a new kind of challenge to its reputation after a massive breach of security affecting more than 100 million online accounts and was forced to close its online gaming services last month.
Sony expects the costs of his misadventures of online safety of 14 billion yen (173 million dollars), covering the customer support, packets of gratification, legal costs, lower sales and beef safety measures.
He said, he has not confirmed any misuse of personal information may be stolen, but most security problems have arisen in recent weeks, including services in Greece and the Canada.
For the January-March quarter, Sony red ink is increased to 388.8 billion yen ($4.7 billion) loss of loss of 56.6 billion yen for the same period the previous year. Quarterly sales dropped 7.8% to 1.58 billion yen ($19.3 billion).
Sony remained in the red in its core TV business for seven years straight. A strong yen, which erodes the value of overseas sales and a decline in prices were behind the damage, despite selling more televisions, according to Sony.
Sony stock gained 0.1% to 2,238 yen ($27) in Tokyo, shortly before earnings were announced.
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