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BengaBenga said: Ehm, did we read the same article? Sony isn't a financial group, so you really can't compare it to American banks. Japanese companies didn't have a whole lot sub-prime morgage derivatives anyway. Sony is an electronics company, with an outstanding debt and low capital. A loss like this would be devestating, especially since it's in mainly made the quarter that should be the highest. |
I'm not saying they are, but I was comparing the market conditions they have exposure to abroad and Sony Financial Holdings does represent a significant portion of their company with about 40% of assets. And yeah Japanese financial companies obviously were much more conservative in their investments with them helping to backstop Morgan Stanley and
Merrill Lynch but the Japanese goverment in December did say they were prepared to bailout 110 billion in bad loans and derivatives so they are not immune to what is happening globally. Now i don't know what Sony had invested in for their policy holders but with that article I'll give them the benefit of the doubt and say they were pretty conservative.
