logo
Share SHARE
FONT-SIZE Plus   Neg

Sony Expects To Take Addl. Charge Of About 300 Bln Yen In Tax Expense In Q4

Sony Corp. (SNE) said it expects to record an aggregate additional charge of around 300 billion yen in tax expense in the fourth quarter of the fiscal year ended March 31, 2012, primarily due to the establishment of valuation allowances against certain deferred tax assets, predominantly in the U.S. This additional tax expense is a non-cash charge and does not have any impact on Sony's consolidated operating income, or loss, or cash flow.

Due to the recording of this additional tax expense, the company is revising its net loss attributable to Sony Corp.'s stockholders forecast for the fiscal year ended March 31, 2012. Net loss attributable to Sony Corp.'s stockholders is now projected to be significantly greater than the February forecast.

The company now expects full-year net loss attributable to Sony Corp.'s stockholders of 520 billion yen, compared to the earlier net loss forecast of 220 billion yen. However, Sony reaffirmed its sales and operating revenue outlook of 6.4 trillion yen.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Grab, the Singapore-based ride hailing company and Uber's biggest Asian rival, said Monday that Chinese ride-sharing company Didi Chuxing and Japan's SoftBank Group Corp. will invest a combined $2 billion to lead Grab's new financing round. Delta Air Lines is allowing some passengers use fingerprints instead of their boarding passes. The pilot program at the Reagan Washington National Airport or DCA will allow members of Delta's SkyMiles loyalty program and enrolled in Clear, a third-party biometric screening program, to use fingerprints as proof of identity to board their plane, the company said in a statement. Oilfield services company Halliburton Co. reported Monday a profit in its second quarter, compared to a hefty loss last year, boosted mainly by strong demand in North America. In pre-market activity on the NYSE, Halliburton shares were gaining 3.9 percent.
comments powered by Disqus
Follow RTT