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Sony Expected to Report Weak Earnings
Sony Corp is expected to report weak results for the July-September quarter after a profit warninglate last month, with analysts looking for more aggressive restructuring moves to confront the slowing global economy. The world’s largest maker of audio and video equipment cut its consolidated operating profit forecast for the full year to next March by more than half to 120 billion yen ($980 million) and announced a handful of restructuring steps, including procurement cost cuts. “That’s not enough,” said Merrill Lynch analyst Hiroshi Kuriyama. “Of course it has made efforts in the past, but current business conditions are far worse… Read more »