Tue, Apr 10, 2012 | 13:18 BST
Sony to post ¥520 billion loss due to tax expenses
Sony has said it’s to report a loss of ¥520 billion ($6.4 billion) for the financial year ending March 31 due to additional tax expenses from the US.
it comes after reports it was set to lose 10,000 employees, a reduction of 6% of its global workforce.
The loss is larger than its previously-predicted loss of ¥220 billion back in February. Sony shares were down 3% before the announcement, the biggest one-day drop in three weeks.
New Sony CEO Kaz Hirai is expected to outline the company’s new strategy in a call this Thursday.