Sony Corp. announced that it expects to post an operating profit growth of 20 billion Yen from the earlier outlook of 40 billion Yen loss for fiscal 2014-15 ending March 2015. The company said the ailing TV business division will turn to the black to 13 billion yen from a loss of 25.5 billion Yen a year earlier, thanks to separating of the division in 2014. The Smartphone business is expected to bottom out due to an additional 1,000-employee reduction.
Sony said the company has failed to consolidate the 9-month (April- December 2014) results till date, due to a large-scale network and IT system breakdown in its subsidiary, Sony Pictures Entertainment, which was subject to massive cyber attacks. Sony said it will report the results by March 31. The company revised the outlook for the 9-month results. Total sales will gain 6.1% to reach 2.557 trillion Yen, thanks to the weaker Yen, recovery in sales units in the Mobile Communications Division, and continued favourable results in the Device and Game and Network Service. Operating profit will increase 89.4 billion Yen from the previous year to 178.3 billion Yen and net profit will be 89 billion Yen, a rise of 62.7 billion Yen from the previous year. The Imaging Products and Solution Division posted a great decline in digital camera sales but it managed a 1.5% growth, helped by weak Yen. Operating profit rose 90.4%, thanks to reduced marketing expenses and weak Yen.
