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Sony Predicts Fifth Annual Loss in Six Years

TOKYO — Sony has revealed that it expects to rack up a net loss for the current fiscal year, ending in March 2015, amounting to $489 million. This disappointing result, marking the fifth time in six years for Sony to end the year in the red, has come despite strenuous restructuring efforts by CEO Kazuo Hirai and his team, including 5,000 job cuts, the sale of the company’s computer unit and the splitting of TV manufacturing into a separate company.

Meanwhile, Sony’s electronic biz continues its seemingly endless search for long-elusive profits, while Sony Pictures’s highly touted “The Amazing Spider-Man 2” is earning less-than-expected BO at home and abroad.

Operating profit will be about 140 billion yen this year, Sony predicts.

One bright spot is the PlayStation 4 console, which surged past the 7 million sales mark in April, beating out arch-rival Xbox. Sony expects to sell a total of 17 million consoles this year.

Sony announced yesterday that Hirai and other top execs would be returning their bonuses for the year ended in March. The company also has added four new outside directors, including former US ambassador to Japan and veteran tech lawyer John Roos, who is expected to help the company in picking up new acquisitions in Silicon Valley.

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