Mighty Sony's earnings get bruised by region's struggles: consumer-electronics giant ekes out slight profit rise, emphasizing gravity of nation's ills
Article Abstract:
Japanese consumer-electronics giant Sony Corp. managed to post an increase in pretax profits in the third quarter of 1997-98, with pretax profits rising to 92.1 bil yen from 91.89 bil yen in the same period the previous year. Sony posted a 13% increase in sales , from 1.43 tril yen to 1.617 tril yen, while at the operating level, profits fell by 4.9% from 97.28 bil yen to 92.48 bil yen. Sony's operating profits were buoyed somewhat by the yen's 12% devaluation against the dollar which inflated the yen-denominated value of its sales. Many of Sony's businesses also suffered due to the Asian economic crisis, with only the video game business and music business posting significant gains.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Sony's shares bounce back
Article Abstract:
Sony, a consumer electronics manufacturer, is experiencing a comeback in shares after getting battered by the Asian economic crisis. Sony shares went up to 8,100 yen in November 1998 after going down at 7,230 yen on Oct 30, 1998 from 13,490 yen on Jul 21, 1998. However, analysts say it will take some time before the firm's shares can maintain a solid upward move. They also added that Sony is still in a better position compared with other electronics makers in Japan. However, it's sole share booster, the Playstation, is facing competition, as the market for the product becomes saturated.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Sharp has lost its edge
Article Abstract:
Sharp Corp's share price for September 1997 has tumbled 36% from the 1996 figures as its hold on the TFT-LCD market begins to weaken and competition from other electronics giants begin to reduce the company's market share. Sharp is losing market share to Sony and Matsushita as restructuring has rendered both competitors profitable again. Analaysts predict the Sharp's share price may yet experience a downturn and that the worse may not yet be over for the company.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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