sonys-3q-losses-pile-pressure-on-management

SonyÆs 3Q losses pile pressure on management

The company blames the strong yen, but some analysts are not convinced. How long can the CEO hang on?

Sony yesterday announced an operating loss of 18 billion $197 million for the crucial Christmas quarter of fiscal 2008 ending March 2009, compared to a gain of 236.2 billion for the same October-December period in 2007.

Operating profit is supposed to reflect the company’s actual operations, and does not include tax or other income’. Net income, which does include tax and other income’ from interest, dividends, net gains on securities investment and gains on changes in interest in subsidiaries and equity investees, amounted to 10 billion thanks to a remarkable 79 billion foreign exchange gain, which offset losses at the operating level. Net income was nevertheless down 95% on the same...

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