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Sony doubles full-year profit forecasts to ¥40 billion

Sony doubles full-year profit forecasts to ¥40 billion

Thu 25 Apr 2013 10:01am GMT / 6:01am EDT / 3:01am PDT

Operating income also up from HQ and other assets sales

Sony Corporation has doubled its profits forecast for the fiscal year ended March 31, from ¥20 billion ($201m / £130) to ¥40 billion ($403m / £261m).

The change is due to a deprecation of the yen during January, February and March, and better than expected performance of its financial services division.

Operating income forecasts have also been upgraded to ¥230 billion from ¥130 billion due to the sale of assets including M3 shares, an office in Tokyo and its US headquarters.

Sony releases full-year financial results on May 9.

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