TOKYO May 9 Sony Corp said it expects
operating profit to hold steady in the year to next March after
rising to its highest in five years last year, as a weakening
yen bolsters overseas sales and makes its consumer electronics
business more competitive.
Sony this business year forecast operating profit of 230
billion yen ($2.33 billion). That compares with the average
estimate of a 210 billion yen profit by 19 analysts surveyed by
Thomson Reuters I/B/E/S, before Thursday's announcement of the
latest earnings result.
Sony for the business year just ended posted an operating
profit of 230.1 billion yen, compared with a 67.3 billion yen
loss a year ago. The result was in line with the average 229
billion yen profit estimated by six analysts since the company
raised its profit forecast to 230 billion on April 25.
Since the start of the year Sony's shares have gained 82
percent compared with a 37 percent rise in the benchmark Nikkei
225. Its shares fell 1.4 percent on Thursday to close at 1,744
yen before it released its latest forecast.