Sony confirms loss on battery sale

Monday 31 October 2016 | 09:25 CET | News
Sony has cut its full-year profit outlook due to writedowns on the sale of its batter business. This follows the company confirming a deal first announced in July to sell the battery business to Murata Manufacturing for JPY 17.5 billion. The sale will lead to an impairment charge of JPY 33.0 billion as an operating loss in the Components segment and JPY 4.5 billion in income taxes in the current fiscal year. This led to the downgrade in Sony's net profit forecast for the year to JPY 60 billion from an outlook in July of JPY 80 billion. Operating profit for the year to March 2017 is now

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Categories: General
Companies: Sony
Countries: World
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