Sony returns to profit, cuts full-year loss forecast

Sony cut further its loss forecasts for the full year to the end of March and now expects to see a net loss of ¥70 billion. Sony had been expecting to lose ¥95 billion, a figure that was revised down in October from ¥120 billion.

The upwards revision comes partly as a result of the improved profitability in the consumer products and financial services divisions and a good start to Sony's fiscal fourth quarter, which began in January.

"In the first month of the fourth quarter the results are about the same as we anticipated or better than we expected," said Nobuyuki Oneda, Sony's CFO, at a Tokyo news conference.