Sony Cuts Forecast on Impairment for Sale of Battery Unit

Sony Corp. cut its annual profit forecast by 10 percent after taking an impairment on the sale of its battery unit in the latest move by the consumer electronics giant to focus on its most lucrative businesses.

Operating income will be 270 billion yen ($2.6 billion) in the 12 months ending March, down from a projection for 300 billion yen, the Tokyo-based company said Monday. Prior to the release, analysts had expected 307.5 billion yen of earnings this fiscal year, according to the average of estimates compiled by Bloomberg.