Economy Tech World

Japan’s Sony : $3.2 billion annual tax loss

Sony Corp reported it expected to swing to a $3.2 billion net loss for the fiscal year ended March, results damage in March tsunami and earthquake and recent a massive online hacking cyber-attack that affected millions of users of Sony network services. “I have been skeptical about Sony for a long time. Sony has been overtaken by Apple and other companies,” said Yuuki Sakurai, “The management is not able to show shareholders the future of the company.” CEO and Fukoku president of Capital Management in Tokyo. Sony ‘s earnings statement: February’s forecast for a net profit about 70 billion yen and today expects a net annual loss of $3.2 billion (260 billion yen). It would be Sony’s biggest net loss since 1995. This year Sony expecting to rise sales and forecast a net profit.

Sony expressed that it had been one of the massive biggest cyber-attacks in history.
After they shutdown PlayStation Network and Qriocity services across the globe on April 20 and after has slowly started restoring access, starting in the US. Sony is still working with their government authorities to restore access in Japan. On May 23 Sony said “known costs” were estimated at least a $170 million in terms of insurance and damages costs. Sony plans to fully restore PlayStation Network and Qriocity services by the end of the month.



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