SONYs Second Quarter Profit Fell Nearly 50 Percent

- Nov 02, 2016-

The Japanese consumer electronics giant Sony Corp released the November 1st second quarter of 2016 (July to September) earnings. Earnings, SONY last quarter revenue of 16889 yen, down 10.8% over the same period last year. SONY operating profit for the quarter was 45 billion 700 million yen, 88 billion yen compared to the same period last year fell by 48%.          


In October 31st, SONY announced the fiscal year profit forecast by 10% next year, the current year ending March, the company is expected to obtain operating profit of 270 billion yen, compared to July this year, is expected to decline 300 billion yen 30 billion yen. For the reason for the decline, SONY said, due to the loss caused by the impairment loss associated with the sale of the battery business. SONY said the company has agreed to sell to the battery business Murata at about 17 billion 500 million yen, is expected to be included in the deal due to impairment charges 33 billion yen.          


It is reported that, at present, SONY CEO Hirai Yifu has reduced the company's business operations, will focus on the profitability of the business. Analysts pointed out that after years of restructuring, SONY has shifted its business focus to video games, entertainment and image sensor, after the sale of the battery business is part of the restructuring plan.


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