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
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
RELATED NEWS
Trade SNE now with 
Follow RTT