Sony Corp said Thursday that it reduced its losses for the past quarter and fiscal year and expected a return to profit this year after restructuring, according to dpa. The Japanese electronics giant forecast a net profit of 50 billion yen (535 million dollars) in the current fiscal year, which began April 1. It also predicted an operating profit of 160 billion yen and a 5-per-cent increase in sales to 7.6 trillion yen as the company is to launch 3D-related products and expected increased sales for its televisions, videogames and personal computers. Sony said it would also see savings through further restructuring and cost-cutting measures. Sony, once known for its innovative products, has seen sales slump recently as it has failed to keep up with its competitors and as the global recession hit sales. As a result, it closed factories and slashed jobs. For its fourth quarter, Sony reported a net loss of 56 billion yen, down from 294.3 billion yen in the same period a year earlier. In the past fiscal year, its net loss amounted to 40.8 billion yen, less than half its 98.94-billion-yen loss from the year before. Sales slumped 6.7 per cent to 7.21 trillion yen. However, it turned an operating profit of 31.77 billion yen, compared with its biggest-ever operating loss of 227.78 billion yen the previous year. In the January-to-March quarter, sales picked up 12.5 per cent year-on-year, reaching 1.72 trillion yen. On Thursday, shares in Sony surged 4.11 per cent.
