HardOCP News
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- Dec 31, 1969
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Confirming what we posted here last week, Sony has announced that it would post a record $3 billion loss and undergo major restructuring that includes layoffs and factory closings.
The company said that for the current fiscal year it expected sales to fall 13 percent from last year, to ¥7.7 trillion, and that it expected a net loss of ¥150 billion - its first net loss in 14 years - compared with a profit of ¥369.4 billion a year earlier. The company announced its new forecast after the close of trading in Tokyo. The stock has declined by nearly 65 percent over the past 12 months.