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Sony cuts profit forecast

dpadpa 31/10/2016

Sony has downgraded its net profit outlook for the current financial year due to losses related to the sale of its battery business.

Sony has downgraded its net profit outlook to 60 billion yen ($A750 million) for the current financial year from 80 billion yen estimated in July, due to losses related to the sale of its battery business.

The Japanese consumer electronics maker also trimmed its operating profit forecast to 270 billion yen for the year through March 2017 from an estimate of 300 billion yen in July, while maintaining its sales outlook at 7.4 trillion yen.

Sony is scheduled to report its financial results for the July-to-September period Tuesday.

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