Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade SNE now with 

Sony Corp. (SNE: Quote) 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.

Click here to receive FREE breaking news email alerts for Sony Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.