Sony Corp. Braced For Billions In Losses

Originally published on May 23, 2011 3:00 pm
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NPR's business news starts with a multibillion-dollar reversal.


LOUISE KELLY: Sony, Japan's largest exporter of consumer electronics, is expecting a loss of more than $3 billion for the fiscal year that ended in March. The company had earlier projected a return to profit. Sony blamed the loss on the impact of the earthquake and tsunami that struck Japan in March. The company's been struggling to improve earnings ever since restarting plants that were disrupted by the disasters. Sony Corps' official earnings report is expected later this week. Transcript provided by NPR, Copyright NPR.