Sony reports third annual loss in a row

26 May 2011

Sony has reported a net loss of $3.2bn (259.6bn yen) in the year to March but forecast a net profit of 80bn yen for the fiscal year that ends in March 2012.

This marks the third annual loss in a row for the Japanese electronics and entertainment giant, which has had to contend with the March 11 earthquake and tsunami in Japan and a huge cyber attack.

In the quarter to March, Sony incurred a 388.8bn yen net loss, mainly as a result of the earthquake. The company also cited a 362bn yen non-cash charge set aside for deferred tax assets.

Operating profit grew to 199.8bn yen for the year to March from 31.8bn yen, but sales were down 0.5pc at 7.18trn yen.

The natural disasters affected supply chains and damaged facilities, forcing the maker of PlayStation consoles and Bravia televisions to close plants in Japan.

The more recent cyber attacks involved the theft of data of from 100m accounts on Sony’s PlayStation Network and Sony Online Entertainment services, including members’ names, addresses and passwords.