Sony returns to profit, cuts full-year loss forecast

Sony said it remains on track to achieve cost reductions of ¥330 billion this fiscal year. Sony is cutting the number of suppliers it deals with to reduce procurement costs and is ahead of target on realignment of its manufacturing plants. The company had planned to close about six of its 57 factories worldwide but by March 2010 it expects to have just 46 plants in operation with a further plant closure planned.