Sony Reports $1 Billion Annual Loss
May 14th, 2009
Sony Corporation has reported a 98.9 billion yen ($1 billion/£685 million) loss for the financial year ended March 31, 2009.
During the period, company sales fell 12.9 percent to 7,730 billion yen ($81 billion/£53.5).
“Sales decreased and losses were recorded due to factors including the slowdown of the global economy, the appreciation of the yen and the decline in the Japanese stock market," said the firm.