Sony announced the Mobile Communications business plan to aim at the sales of 1100 Billions of Yen at the fiscal year 2017

Kenichiro Yoshida CFO of Sony

Kenichiro Yoshida CFO of Sony

Sony announced the consolidated financial results for the third quarter of the fiscal year 2014.
The sales and the operating revenues are expected to be 2,557.8 billion yen, 6.1% increase from the same period last year. The operating income is 178.3 billion yen, 89.4 billion yen increase from the same period last year.

As a result, the consolidated operating income results forecast for the fiscal year 2014, which was expected 40 billion yen loss last October, is expected to be 20 billion yen profit in reversal.
Sony said that the financial closing has not been completed at Sony Pictures Entertainment Inc., which is Sony’s consolidated subsidiary and constitutes the Pictures segment, due to the large-scale network system disruption as a result of the cyberattack from a third party. Therefore, the financial information in the consolidated business results and the Pictures segment announced today include the estimated impact of the cyberattack to the business.

There is the effect of the foreign currency in a weak yen environment behind the improvement of the profitability. Sony said that in the Game & Network Services segment, the unit sales of PS4 exceeded the plan, and furthermore, the online game sales was also strong.

On the other hand, the Mobile Communications segment is holding down Sony’s main business. In the Mobile Communications segment, the forecast for the fiscal year 2014 is announced as follows. The sales is 1,320 billion yen and the operating income is 215 billion yen loss.
In order to implement the structural reform in the Mobile Communications segment, Sony will cut 2,100 employees by the end of the fiscal year 2015 and the restructuring charge of 30 billion yen is booked. Sony said that the cost down of more than 90 billion yen per year including other operation expenses was planned.

Today, Sony announced the business numerical goals in the Mobile Communications segment in the fiscal year 2017 as follows. The sales will be increased from 900 billion yen to 1,100 billion yen, the target operating profit ratio will be 3-5%.