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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
BusinessFinancial

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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