Sony Upgrades Financial Forecast

TOKYO: Sony Corporation has increased its fiscal 2015 revenue forecast by 2.6 percent to 8.2 trillion yen ($68.6 billion), projecting operating income for the year ended March 31, 2015 of 68 billion yen ($568.5 million).

The Japanese conglomerate previously forecast an operating income of 20 billion yen ($167.2 million), lower than its fiscal 2014 result of 26.5 billion yen ($221.6 million). It has also reduced its net loss forecast from 170 billion yen ($1.4 billion) to 126 billion yen ($1.05 billion).

"The forecast for consolidated sales has been revised upward primarily due to an anticipated increase in Financial Services revenue as well as an increase in sales in the Music, Imaging Products & Solutions, and Game & Network Services (G&NS) segments when compared to the February forecast," the company said in a statement.

Fiscal 2015 results will be released at the end of this month.