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Sony Reports Record Loss: $5.7 Billion Lost In 2011
fastcompany.com 2 weeks, 4 days agoNews updates all day from your Fast Company editors. Sony corporation just reported a record loss for a single fiscal year: 457 billion yen, an equivalent of $5.7 billion dollars for the year 2011. $3.2 billion, about 56% of the loss, was incurred in the final January-March quarter as Sony saw its fifth failed quarter in a row. The Japanese firm was hit, it says, by unfavorable exchange rates affecting the Japanese yen, and by the aftermath of the disastrous earthquake and tsunami that ravaged the nation in
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Sharp And Sony To Terminate Joint LCD Venture
boygeniusreport.com 3 days, 15 hours agoSharp and Sony on Wednesday released a joint statement to announce the end of the companies’ joint venture to produce and sell LCD panels. Due to the “rapidly changing market for LCD panels and LCD televisions,” Sony will sell its shares of the venture, which represent 7.04% of the company. The manufacturer will also receive a cash payment equal to its original investment of 10 billion yen that will be paid by Sharp. Both the sale of shares and Sony’s cash payment will be completed by the end of June 2012.
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