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Danielle Kucera, Joseph Ciolli and Mariko Yasu said: "Japan’s largest exporter of electronics slashed its profit forecast after saying last week its TV division will lose money for an eighth straight year." "...it now expects the loss from its television business to be as large as the 75 billion yen deficit it reported in the fiscal year ended March. That would push losses at Sony’s TV division past a half- trillion yen since 2004, or more than $5 billion based on historical exchange rates, data compiled by Bloomberg show." "Without the losses in TV, Sony’s own projection indicates the company would have made 275 billion yen in operating profit this fiscal year. Using the same earnings multiple, Sony would then be worth 3.33 trillion yen or 3,310 yen a share. That’s a 70 percent increase from last week’s closing price" |
When will Sony drop the festering lump that is its T.V. division? (8 solid years of losses in that division is just rediculous!)
