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Kasz216 on 24 May 2011
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ethomaz said:
Kasz216 said:
ethomaz said:
Kasz216 said:

Well there was that giant earthquake... and the whole hacking thing and everything.  I wouldn't call it shocking.

The earthquake was $270 million... the PSN thing is for the next quarter.

That's just tax credits under US law (which I don't understand very well).


You mean Japanese law?

No US law... Sony is a international company.

Here explain better: http://gamrconnect.vgchartz.com/post.php?id=4063288

That's.... not right though.

The writedown is in relation to japanese tax credits.

http://newsfeedresearcher.com/data/articles_b22/sony-billion-year.html

 


Sony Corporation (NYSE: SNE) revised its FY 2010 consolidated results forecast on May 23, 2011. According to the new forecast the company expects a loss of $3.2 billion (260 billion yen) for the fiscal year ended March 2011, reversing its earlier projection of a return to profit because of the impact of the March 11, 2011 Japanese earthquake and tsunami. [9] The losses can be written down against future profits, but with the damage to the supply chain and other factors resulting from the earthquake and tsunami expected to cost Sony 150 billion yen ($1.83 billion), the company said it has decided to take a "non-cash charge of approximately 360 billion yen related to Japanese tax credits."

 

it decided to not write it down vs future profits because it was worried about the damage to the supply chain... and to be used against future deffered taxes in japan.