Weaker yen helps push Sony into profit

Weaker yen helps push Sony into profit

Sony is back in the black for the fiscal fourth quarter, recording a 93.9bn yen (€723.4m) profit, with big help from a weaker yen that boosts overseas earnings.

The Japanese electronics and entertainment company sank to a 255.2bn yen (€1.9bn) loss in the same period the previous year, hit by its money-losing TV business and competition from rivals Apple and Samsung.

Quarterly sales rose 8% to 1.7 trillion yen (€13.1bn), mainly from a favourable currency rate.

A weak yen helps Japanese exporters and the dollar has gained 20% against the yen in recent months.

Tokyo-based Sony expects the recovery to continue, and projected a 50bn yen (€385m) profit for the fiscal year through to March next year, up 16%.

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