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Sony cuts FY outlook on extra costs for PC exit

2014-05-01 09:08:00| Telecompaper Headlines

(Telecompaper) Sony has cut its profit forecast for its fiscal year to March 2014, due to extra costs for shutting down its PC business and a slowdown in its disc manufacturing business. The company said it will book JPY 30 billion in restructuring charges for the earlier announced exit from the PC business. These had previously been expected to fall in the following fiscal year, to March 2015, but have been moved forward. It will also book a JPY 25 billion impairment on the disc business, due to a slowdown particularly in Europe of CD and DVD sales and expected lower profitability from the activities in future. As a result, Sony expects an annual net loss of JPY 130 billion, versus a forecast in February for a loss of JPY 110 billion and a profit of JPY 43 billion in the previous year. The estimate for operating profit was cut to JPY 26 billion from 80 billion, while the sales outlook slightly increased, by 0.9 percent to JPY 7.77 trillion.

Tags: pc extra costs sony

 

Takeover Speculations Rise For BG Group After CEO's Surprise Exit

2014-04-29 18:55:00| OGI

Several companies have the capacity to bid for BG, according to an analyst.

Tags: group rise surprise exit

 
 

Analysis: Nike's Fuelband exit could be smart play

2014-04-29 08:38:21| Footwear - Topix.net

Nike's move to fire 70 people from the division responsible for the Fuelband fitness product was a strategic move that could pay off for the company, says retail analyst Kristen Bentz.

Tags: play analysis smart exit

 

US: Wet Seal to exit Arden B business

2014-04-25 18:20:00| Daily apparel & textile news and comment - from just-style.com

The Wet Seal is to wind down its Arden B brand with the closure of 31 stores, as the specialty apparel retailer looks to grow its namesake label.

Tags: business exit wet seal

 

Japan's NTT DoCoMo to exit Indian telecoms joint venture: sources

2014-04-25 09:54:39| Steel - Topix.net

NTT DoCoMo, Japan's biggest telecom network by subscribers, will sell its stake in its loss-making Indian mobile phone joint venture to partner Tata Group, people with direct knowledge of the matter said on Friday.

Tags: sources joint indian exit

 

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