Sony 2009 Annual Report Download - page 4

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2
Financial Highlights
Sales and operating revenue ¥7,730.0 billion ( -12.9%)
Operating loss ¥227.8 billion (—)
Loss before income taxes ¥175.0 billion (—)
Net loss ¥98.9 billion (—)
*Percent change over prior year is shown in parentheses.
Consolidated Financial Results
for the Fiscal Year Ended March 31, 2009
Sales and operating revenue (sales) decreased 12.9% compared to the previous
fiscal year and losses were recorded due to such factors as the slowdown of
the global economy, the appreciation of the yen and the decline of the Japanese
stock market.
An operating loss of ¥227.8 billion was recorded, a deterioration of ¥703.1 billion year
on year. Some of the significant factors that caused the year-on-year deterioration
in operating income were an approximate ¥279.0 billion impact from the
appreciation of the yen against the U.S. dollar and the euro, a ¥125.9 billion
impact from deterioration in results at equity affiliates, including Sony Ericsson
Mobile Communications AB (a mobile phone business joint venture), and a ¥53.8
billion deterioration in operating results in the Financial Services segment, mainly
due to a significant decline in the Japanese stock market. Restructuring charges,
recorded as operating expenses, amounted to ¥75.4 billion, compared with ¥47.3
billion for the previous fiscal year.
In the prior year a gain of ¥81.0 billion in other income from the change in ownership
in interest in subsidiaries and investees was recorded as a result of the global initial
public offering of shares of Sony Financial Holdings Inc., which prompted a
worsening of the net amount of other income and other expenses. Due to this, an
income tax benefit of ¥72.7 billion and other factors, net loss of ¥98.9 billion was
reported compared with net income of ¥369.4 billion in the previous fiscal year.