Sony raises 2017 operating income forecast by almost 19%

Sony has raised its forecast for operating income in the 2017 financial year by nearly 19 per cent and its pre-tax income forecast by nearly 28 per cent on expected improvement in almost all of the Japanese conglomerate’s business units.

While forecasts for sales and operating revenue for the year ended March 31 remained unchanged from February’s estimates, that for consolidated operating income was revised upward by 18.8 per cent to ¥285bn, making for a year on year fall of 3.1 per cent.

Sony attributed the upward revision to expected improvement in all segments outside its components business thanks to lower than anticipated amortisation and lower costs in its financial services and semiconductors segments, among others.

Expected income before income tax was also raised 27.6 per cent to ¥250bn, reflecting a drop of 17.9 per cent from 2016. That pushed net income attributable to stockholders up 180.8 per cent, to ¥73bn, a year-on-year drop of 50.6 per cent.

Final consolidated results for Sony’s 2017 fiscal year are due out on April 28. Tokyo-listed shares in the company closed up 0.6 per cent at ¥3,592 on Friday ahead of the announcement.