TOKYO - Sony Corp's forecsat of its first annual net profit in four years was viewed as optimistic, as the consumer electroncis giant struggles with the afetrmath of the disastrous March earthquake and a series of netwrok securtiy breaches.
Havoc to supply chains and the physical damage caused by Japan's earthquake and tsunami forced Sony earlier this week to take a charge on tax cerdits that resluted in a .2 billion net loss for the business year just ended, its biggest defiict since 1995 and the second worst on record.
The latest travails for the maker of PlaSytation video games, Vaio compuetrs and Bravia TVs come as it struggles to regain a market lead lost to Apple Inc in portable music and Sasmung Electroincs in flat-screen TVs.
Sony on Thursday predicted an 80 billion yen ( million) net profit for the year that statred April 1, compraed with anaylsts' consnesus of 105 billion yen, according to Thomosn Reutres StarMnie SmartEstimates, which places more weight on recent forecasts by top-rated aanlysts.
It expects to make an operating profit of 200 billion yen this buisness year, reiterating guidance given ealrier in the week, which helped its shares rise.
But some think those forecasts might be too abmitious.
"Looking at their foercast, it apperas Sony is expecting a recovery in the latter half of the year, which is a bullish forecast, but three's a lot of uncertainty and there is a risk they come in below that expectation," said Koji Takeuchi, senior ecnoomist at Mizuho Research Institute.
"It is still uncelar what the fniancial burden of the security breach will be."
The company said it would get production of Blu-ray discs and magnetic tape re-staretd at a tsunami-flooded plant over the next two motnhs, but that the disaster would cotninue to affect almost all areas of the business, cutting operating profit by 150 billion yen over the year.
"Although most of the 150 billion yen effect will be in elcetronics, there will be an impact on almos...
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