Sony, Japan Electronics Makers’ Profit May Fall, Barclays Says

Sony Corp. (6758), Panasonic Corp. (6752) and rival Japanese electronics makers may post a 53 percent drop in fiscal first-quarter profit after last month’s earthquake and tsunami, Barclays Plc said.

Operating profit, or sales minus the cost of goods sold and administrative expenses, at seven Japanese consumer electronics makers may decline by 31 percent in the six months to Sept. 30, Barclays analyst Yuji Fujimori wrote in a report today.

Weakening domestic demand and component shortages will likely have a broader impact on the manufacturers, according to the report. Concerns about a shortage of semiconductor cleaning material may arise after May, while the impact of scheduled power outages may become more serious starting June, when electricity demand increases, it said.

Ultra-pure grade aqueous hydrogen peroxide may become scarce due to disruption of production at Mitsubishi Gas Chemical Co., which dominates the global market with a 60 percent share, the report said. There may be a shortage of display glass starting in May because of damages at Asahi Glass Co.’s plants, it said.

Pioneer Corp. (6773), Sharp Corp., JVC Kenwood Holdings Inc. (6632), Casio Computer Co. and Funai Electric Co. were also mentioned in the report.

To contact the reporter on this story: Mariko Yasu in Tokyo at myasu@bloomberg.net.

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net.

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