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Business News Labels & Publishers
Sony’s financials remain disappointing
By CMU Editorial | Published on Friday 3 August 2012
Sony Corp’s latest financials contain more gloom, as has become the tradition for the electronics and entertainment giant in recent years. Losses from April to June were 24.6 billion yen, up from 15.5 billion yen in the same quarter the previous year. The strong yen continues to impact on the Japanese conglom’s international revenues, while declining sales of TVs and PlayStation consoles didn’t help.
Sony’s music businesses were profitable, though less so than the same quarter the previous year, collectively generating 7.3 billion yen in profits from 98.8 billion yen in sales, just under 40% less than a year earlier. The “worldwide contraction of the physical music market” and a smaller number of key releases in the Japanese market were both blamed.
