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Sony Expects an Even Bigger Loss—and That’s Good News for Sony

Sony has said it will unload its PC business
Sony has said it will unload its PC businessPhotograph by Kiyoshi Ota/Bloomberg

On Thursday, Sony executives spoiled the holiday cheer of Japan’s Golden Week. For the second time in four months, the Japanese electronics giant announced it had been way too optimistic about its chances of ending its losing streak. The company said its net loss for the fiscal year ended in March was 130 billion yen ($1.3 billion). In February, Sony projected a loss of 110 billion yen, after having forecast in October that the company would earn a profit of 30 billion yen.

The Japanese stock market took the bad news in stride. In early trading today, Sony shares fell as much as 4.4 percent, the biggest intraday decline since Nov. 1, but by the end of Friday they had pared losses to just 0.5 percent.