underlying business look solid despite 112 billion yen writedown, analysts say

by Dramelin 9:00 PM 0 comments

Sony cut its forecast for operating income by 30 billion yen from its November predictions to 240 billion yen for the full fiscal year ending Mar. Don`t be quick to write off Japanese electronics and entertainment giant Sony, despite the latest round of disappointing earnings. Sony bought Columbia Pictures Entertainment in 1989. The market seemed to have taken note as Sony shares jumped 6 percent to 3,571 yen Friday morning in Tokyo. Sony also revised its expectations on future profitability of its motion pictures business due to the recent performances of its home entertainment business which, the company said, was facing an "acceleration of market decline.