In a financial report published by Sony Corporation, the electronics company announced that it’ll be revising its consolidated forecast for the fiscal year between Monday, April 1, 2013 and Wednesday, March 30, 2014 following a prediction that it’ll expect a net loss of 130 billion yen ($1.3 billion / £770 million) for this year. This predicted net loss is 20 billion yen more than the company’s original prediction made back in February of 110 billion yen.
Sony’s revised operating estimates now leaves it with 26 billion yen to work with throughout the remaining fiscal year, which is a significant drop from the initial 80 billion yen forecast the company made back in February. Contributing factors to Sony’s loss are attributed to the company’s restructuring plans, and an additional 30 billion yen in expenses relating to it exiting the PC business (which was also announced back in February). Since said announcement, PC sales for the fiscal year of 2014 and expected sales for the fiscal year of 2015 are under-performing Sony’s February expectations.
Not only that, but the company also expects approximately 25 billion yen in impairment charges relating to its overseas disc manufacturing business, which was due to the demand for CDs and DVDs having dropped faster than anticipated – presumably in favor of digital and downloadable content.
Sony’s Shuhei Yoshida explained in a recent interview that virtual reality still has a long way to go in terms of development, saying that “it’s not even starting in a real way.” Sony has also trademarked two new titles: “Entwined” and “Kill Strain“. What’s more, the company has sold its shares in Square Enix, expecting transfer funds to total roughly around 4.8 billion yen ($47 million, or your regional equivalent) of additional profits.
[ Sony ]