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Sony reports record annual loss

Sony reports record annual loss

Japanese electronics maker Sony has reported a record annual loss as natural disasters last year and a strong yen hurt its earnings.

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Law Assignment The firm reported a net loss of 456.7bn yen ($5.7bn; £3.5bn) for the year to the end of March, compared with a 259.6bn yen loss last year.

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The company said falling demand from developed markets also affected its earnings.

However, it forecast a profit of 30bn yen for the current financial year.

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But despite the company sounding upbeat, some analysts said the firm was likely to face tough times even in the year ahead.

“There is no respite in sight for them. Demand from Europe has been falling and the yen continues to remain strong,” Nitin Soni of Fitch Ratings told the BBC.

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