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Sony reports record annual loss
Sony Corp. racked up a record annual loss of 457 billion yen ($5.7 billion) in its fourth straight year of red ink as the once-glorious maker of the Walkman and PlayStation struggles to turn things around under a new president.
May 10, 2012
(FINANCIAL TIMES) TOKYO - Sony on Thursday sought to assure investors that its latest restructuring effort was bearing fruit, saying it expected to follow a record 2011 net loss with its first full-year net profit in five years.
The Japanese electronics and entertainment group, which is preparing to cut 10,000 jobs, or 6 per cent of its global headcount, and scale back its unprofitable television manufacturing business, forecast a narrow Y30bn net profit for the year to next March.
