Sony shaken by record annual loss

Earnings hurt by natural disasters and a strong yen.

Sony's headquarters in Tokyo, Japan. Credit: Getty Images

Sony Corporation has posted a net loss attributable to stockholders of 456.66bn yen for the year ended 31 March 2012, compared to a loss of 259.59bn yen last year. The Japanese electronics giant's earnings were hit by the earthquake and tsunami that struck the country's Tohoku region, as well as floods in Thailand and falling demand in developed markets. 

Sales and operating revenue came to 6493.21bn yen – a significant year-on-year drop from 7181.27bn yen. Sales decreased mainly in the consumer products and services (CPS) segment, which saw business shrinking by 18.5 per cent to 3136.8bn yen (2011: 3849.8bn yen), and professional, device & solutions (PDS), where it fell 12.6 per cent to 1313.8bn yen (2011: 1503.3bn yen).

Operating loss was 67.28bn yen, compared to an operating income of 199.82bn yen last year. 

Diluted earnings per share were 455.03 yen (2011: 258.66 yen).

Pictures division sales increased 9.6 per cent to 657.7bn yen (2011: 600bn yen), while music division sales decreased 5.9 per cent to 442.8bn yen (2011: 470.7bn yen).

For Sony Mobile Communications, sales and operating revenue decreased 12.4 per cent to €5.29bn (2011: €6.03bn).

Revenue increased in financial services by 8.1 per cent year-on-year to 871.9bn yen, mainly due to a significant increase in revenue at Sony Life.

For the fiscal year 2013, the company forecasts sales and operating revenue of 7400bn yen.