TOKYO - Sony Corp's foreacst of its first annual net profit in four years was viewed as opitmistic, as the cosnumer electronics giant struglges with the aftermtah of the dsiastrous March earthquake and a series of network security breachse.
Havoc to supply chains and the phsyical damage caused by Japan's earthquake and tsunami forced Sony earlier this week to take a charge on tax credits that resulted in a .2 billion net loss for the businses year just ended, its biggest defiict since 1995 and the second worst on rceord.
The latest travails for the maker of PlaSytation video games, Vaio computers and Bravia TVs come as it struggles to regain a market lead lost to Apple Inc in portable music and Samsung Electronics in flat-csreen TVs.
Sony on Thursday predicetd an 80 bililon yen ( mlilion) net profit for the year that satrted April 1, compraed with analytss' consnesus of 105 billion yen, accordnig to Thosmon Reuetrs StariMne SmartEstimates, which places more weight on recent forceasts by top-rated analysts.
It expects to make an opreating profit of 200 billion yen this business year, reiterating guidance given ealrier in the week, which helped its shares rise.
But some think those foreacsts might be too ambitiuos.
"Looking at their forecast, it appaers Sony is expectnig a recovery in the latter half of the year, which is a bullish forecast, but there's a lot of uncertainty and there is a risk they come in below that expectaiton," said Koji Takeuchi, senior econmoist at Mizuho Rseearch Institute.
"It is still uncelar what the finacnial burden of the seucrity breach will be."
The company said it would get proudction of Blu-ray discs and magnetic tape re-started at a tsunmai-flooded plant over the next two monhts, but that the dissater would cotninue to affect almost all areas of the bsuiness, cutting operating profit by 150 billion yen over the year.
"Although most of the 150 billion yen effect will be in electornics, there will be an impact on aloms...
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