{"id":21120,"date":"2017-02-02T10:01:37","date_gmt":"2017-02-02T10:01:37","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=21120"},"modified":"2017-02-02T10:01:37","modified_gmt":"2017-02-02T10:01:37","slug":"sony-cuts-annual-profit-view-movie-business-writedown","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/sony-cuts-annual-profit-view-movie-business-writedown.html","title":{"rendered":"Sony cuts annual profit view on movie business writedown"},"content":{"rendered":"<div align=\"Justify\">\n<h2><span style=\"font-size: 18pt;\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif; color: #000000;\">Sony cuts annual profit view on movie business writedown<\/span><\/strong><\/span><\/h2>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">Sony cuts annual profit view on movie business writedown:- Sony Corp on Thursday cut its full-year outlook for operating profit on Thursday after the Japanese TV-to-gaming group took a $1 billion writedown on its struggling movie business.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">Sony forecast group operating profit of 240 billion yen ($2.13 billion) for the year ending in March, down from a previous estimate of 270 billion yen.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">It also said October-December operating profit fell to 92.4 billion yen from 202.1 billion yen a year earlier.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">The company said earlier this week it had cut the goodwill value of its movie business by 112.1 billion yen due to a dimming outlook for earnings from DVD and Blu-ray discs.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">But a weaker yen and an image sensor business recovering from April earthquakes at Japanese plants helped partially offset the movie business writedown.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">Sony has stressed that the pictures segment overall &#8211; including television programs and media networks &#8211; would improve through efforts to cut costs and bolster income from intellectual property. The segment &#8220;continues to be an important business,&#8221; it has said.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">Sony&#8217;s pictures segment, which accounts for some 10 percent of the company&#8217;s overall sales, is regarded as a key growth driver under its current three-year business plan through March 2018, along with image sensors, videogames and music.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">Pictures supported Sony&#8217;s earnings during years of struggle in its core consumer electronics business. Its profitability prompted activist shareholder Daniel Loeb to urge Sony in 2013 to partially spin off the segment as well as the music arm to free up cash to revive the electronics business.<\/span><\/p>\n<p><span style=\"font-size: 8pt; font-family: Arial, Helvetica, sans-serif; color: #000000;\">Source:-\u00a0http:\/\/www.reuters.com\/article\/us-sony-results-idUSKBN15H0E6<\/span><\/div>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/sony-cuts-annual-profit-view-movie-business-writedown.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Sony cuts annual profit view on movie business writedown Sony cuts annual profit view on movie business writedown:- Sony Corp on Thursday cut its full-year outlook for operating profit on Thursday after the Japanese TV-to-gaming group took a $1 billion writedown on its struggling movie business. Sony forecast group operating [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[11574,11572,12982,11573],"class_list":["post-21120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-breaking-usa-tech-news","tag-latest-technology-news-usa","tag-sony-cuts-annual-profit-view-on-movie-business-writedown","tag-tech-news-today"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/21120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=21120"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/21120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/21121"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=21120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=21120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=21120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}